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48th Street Apartments and 53rd Street Apartments

Situated in Hell’s Kitchen on the West Side of Manhattan, these properties are an integral
piece of this storied, Broadway-adjacent neighborhood — not to mention evidence of
the area’s ongoing and dramatic transformation. When they were acquired in 2014, the
structures were long overdue for interior and exterior improvements. By the time the
renovation process was complete, apartments had new kitchens, bathrooms, and closets
and featured state-of-the-art electrical panels, Energy Star™ appliances, and LED lighting.
Fairstead’s commitment to sustainability can also be seen in upgrades to pipe insulation,
air sealing, and boiler controls. Together, the energy-efficient improvements have resulted
in significant savings across the board, allowing residents to realize significant reductions
in their monthly gas (10%), water (40%), and electricity (up to 34%) costs. On-site
amenities include a laundry room, elevators, and refreshed community rooms.

After acquiring the apartments at 48th Street and 53rd Street, Fairstead assumed day-to-
day, on-the-ground operations of the site. Such oversight is necessary to establish and
maintain a higher-than-expected (or required) standard of property upkeep, as well as
new paradigms for operating transparency and resident communication.

Similarly, Fairstead’s in-house social services department is driven by ambitious but
achievable goals. We strive to establish offerings tailored to community residents’
wants and needs. More often than not, these services involve issues tied to personal
growth and success, including education, employment assistance, health and wellness,
food insecurity, and access to relevant local, state, and national government assistance
programs. At many properties, special events curated by the on-site team bring neighbors
together and foster a sense of community.

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