The Octagon, a 500-unit full-service new luxury development on Roosevelt Island, offers plenty of extras to induce renters to forego Manhattan. Day-care center and full-day preschool on site? Check. Abundant recreational facilities, including an outdoor pool, two-acre ecological park, tennis courts, clubroom and fitness center? Check. Green design? Check.

Inside the apartments are the views, hardwood floors, individual temperature controls, and modern kitchens and baths, and in many units a washer and dryer. StreetEasy.com shows 25 units currently available for rent, with some listings indicating one month free on a thirteen-month lease. Studios start at $1,725, one bedrooms at $2,025, two bedrooms at $3,000, and three bedrooms at $3,300.

No-Fee Building of the Week is writer A. Ready's weekly independent selection of a no-fee rental building that she believes reflects good value given current market conditions. It is not an advertisement for the building, nor is it paid for by any company/website mentioned.