NYC micro-apartments begin leasing

Leasing has kicked off at New York City's first micro-unit development. Carmel Place on East 27 Street is a nine-story building that contains 55 studio apartments. Project developer Tobias Oriwol said that it focuses on exactly what a New York City dweller needs.

"It's really meant to be the necessities that someone who is living a fast-paced lifestyle in Manhattan is going to want to use in an apartment space like this," said Tobias Oriwol, project developer.

The studios range in size from 260 to 360 square feet. They can be rented furnished or unfurnished within a price range of $2,500 to $3,000. The building also includes rent-stabilized units and units set aside for formerly homeless veterans.

In order to maximize use of the small space, built in, multi-purpose, convertible furniture is used -- perfect for resting and relaxing. The bathroom is large enough for a wheelchair and has a stand-up shower.

The kitchen has a two-burner electric range, refrigerator, microwave, dishwasher, and plenty of counter space.

If you are concerned about size being an issue for entertaining, that's not a problem. There is plenty of room for dinner with friends.

The building is using a lifestyle service called Ollie to enhance the tenants' experience.

"We provide housekeeping, we provide cable, we provide Wi-Fi, and also a personal concierge service, and a social service as well for programming of different events," said Chris Bledsoe, co-founder of Stage 3 Properties.

So, the micro-units at Carmel Place are more than just a place sleep at night.

"It's really a whole lifestyle we're trying to sell. And that's something that doesn't exist on the market right now," Oriwol said. "People are currently trying to figure out ways to shoehorn their way into a weird living arrangement. This is for the people who really want to get out of that."