Waterside Plaza-A dream residence, or not so Much?

Waterside plaza, or also known as the “W on the water” in the brokers circles, is an apartment complex located East of the FDR.This complex is built on the top of a platform supported by concrete pillars which are sunk in the East river. Waterside plaza is the only known apartment complex in Manhattan that is literally situated on the river and offers unparalleled river and skyline views.

The apartment complex consists of 4 residential buildings and a row of townhouses which spread from 24th to 27th streets. The development was completed in 1974 and the total number of apartments is 1470. The tenants of the commercial space of Waterside plaza are: Citibank, Gristedes grocery store, Starbucks, British international school of New York, dry-cleaners and some others which provides a range of conveniences to the community and make up for the remote to the East location.  Recently I spoke to a resident of Waterside plaza. In response to my question how he likes the location, he answered that this did not bother him at all. ” I work from home, and having access to the vendors on site, I don’t really need to leave the complex at all..”

Waterside plaza also offers a large health club with swimming pool. The fitness gym is thoughtfully  designed and offers two separate compartments -a free weights/ machines section and a cardio-elliptical room. The Waterside plaza Parking garage accommodates the tenants needs at a very competitive rate. Those who have no vehicles but need one for their daily errands,  the onsite parking garage is affiliated with Zip car. The complex can be accessed via public transportation-m34 bus which stops right in front of the building and on foot via the bridge on 25th street which goes over the FDR highway.

The complex has a large 80 000sq ft plaza which is used for different social events, dancing, charity parties and other recreational activities usually organized by the Waterside Plaza management LLC. In 2004 the company allocated approximately 35Mil for general improvements and upgrades which affected the whole complex. The plaza was reinforced and all new apartments to come available to market would get stainless steel appliances. The common areas in the buildings and the hallways were also upgraded and a separate place for concierge and doormen were created in each building.

Even after all the cosmetic updates performed within the last decade, some of the residents would still find issues to complain about. One of the biggest concerns has been the electrical charge which some residents find outrageously high. The management has found a way to deal with this by supplying in advance the prospective residents  with the information  of what the expected monthly electricity bill might be depending on the size of the apartment, this way avoiding unpleasant surprises or complaints. Some people have speculated that because of its close to the river location, the buildings are prone to rat infestation and this creates some additional issues for the residents. On the positive note, Waterside plaza is managed by a very responsive and attentive staff which is there to constantly improve the standard and help in solving the tenants issues. Here is a link to the building’s website http://www.watersideplaza.com/

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Positive:

• Spacious apartments
• Open River and city views
• Large community with conveniences
• On-site parking garage, health club and indoor swimming pool
• Responsive staff

Negative:

• Remote location
• possible high electrical bill
• thin walls, noise problems
• possible rat infestation issues

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