And if you can't afford to live downtown Manhattan, views of the city from just across the river are probably the next best thing, so say the developers, New Yorkers Alex and Andrew Silverman of the Andalex Group, who have just paid almost 42million for the eightstorey Eagle Electric building in Queens.

The building at 27 to 28 Thompson Avenue was formerly an electrical company that produced switches and other electrical devices. Set to be converted into 238 up-market apartments, the developers claim that Arris Lofts represents really good value, compared to similar developments in Manhattan which would cost almost twice the price because of the downtown location.

"Given what's going on in Manhattan, we're real value, " says Andrew Silverman.

Rents here are strong, commanding between 3,200 to 4,000 per month for a one-bed of this calibre. Monthly charges which are usually paid by the tenant average about 600 per month for a one-bed. Charges are high compared to Irish service costs. But then at Arris Lofts you get a 24-hour doorman service, elegant lobby with panelled walls and open fireplace, roof garden, private pool for residents and fitness centre. All apartments also get basement storage as well.

Selling from plans, this first phase offers a selection of studios, and one and two-bed apartments, all with home office.

Studio units with a home office are roomy enough with a floor area of 89sq m (954sq ft), while one-bed apartments with office are very spacious at 118sq m (1,270sq ft). Two-beds with office space stretch to 149sq m (1,600sq ft). Also available are standard one-bed apartments of 91sq m (975sq ft).

All apartments have high ceilings of between 14ft and 16ft, with large floorto-ceiling windows. Accommodation is open-plan and apartments come with some impressive features such as white gloss kitchens with integrated appliances and pull-out counter space, Italian wooden flooring throughout, and custom-designed bathrooms/wetrooms with recessed lighting and porcelain floor and wall tiling.

Work is well under way and apartments will be ready from this November onwards.

Price: 595,500 to 878,000.

Agent: Hamilton Osborne King 01-6181300