Cool Area, Hot Rental, $1,000 Deposit

A big developer tests the strength of the city’s rental market.

By ALISON GREGOR
REAL ESTATE


IN one indication of the strength of the New York rental market, a new building in Chelsea abutting the High Line is requiring a $1,000 nonrefundable deposit to reserve an apartment. If potential renters at the building, called Ten23, decide to move...

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