Luxury Apartments in East Harlem Filling Fast Despite Economy Updated April 8, 2010 5:29pm

These recently opened luxury apartments in East Harlem are nearly filled even, the manager expects the property to be at capacity by the second week in May. (DNAinfo/Gabriela Resto-Montero)

By Gabriela Resto-Montero

DNAinfo Reporter/Producer

EAST HARLEM — Even as properties across the neighborhood go into foreclosure, a luxury apartment rental building on Lexington Avenue is nearly full despite only being open since April 1.

The 39-unit building at 1667 Lexington Avenue is nearly half full and management expected to reach full capacity by the second week in May, said George Mercado, manager of the property.

Featuring a mix of studios and one and two bedroom apartments, rent in the building ranges from $1,500 for certain studios to $2,800 for loaded two-bedrooms, Mercado said.

The prices have attracted some people from the neighborhood but also residents attracted to the tricked-out amenities who were pushed out of pricier pads elsewhere.

"For the one bedroom that they’re paying $2,500, they’re able to get a two-bedroom in this building for the same price," said Steve Hallerman, the building's broker with Citi Habitats.

The construction of a Park Avenue-like building on Lexington is an indication of how Real Estate development continues to move north in Manhattan, Hallerman said.

"It's luxury like you find below 96th Street," Mercado said. "Now this is like an extension of the Upper East Side."