Image courtesy Cottonwood Group

The newest residential building at Boston’s EchelonSeaport includes 270 apartments with studios starting at $2,400 – and offers for up to two months free rent.

Nearing completion at 131 Seaport Blvd., The Alyx at EchelonSeaport is offering the incentives for leases on units available for move-in by Nov. 30, along with paying the full broker fee.

The luxury tower is the rental portion of the EchelonSeaport, which includes a pair of condo towers also developed by Cottonwood Group and 125,000 square feet of retail space.

Since the beginning of the pandemic, rents have declined 11 percent and occupancy has declined 4.5 percent at 10,000 class A apartments in Boston’s urban core, a CBRE multifamily broker said last week. An exodus of off-campus college renters has dampened demand in the city, while suburban markets have registered slight gains in rent and occupancy.

Editor’s note: This report has been updated to clarify the EchelonSeaport project contains 125,000 square feet of retail space.