J.Lo and A-Rod Trading $17 Million NYC Apartment for 'Bigger Space' for Blended Family: Source

The couple's current city home has three bedrooms for the family of six

Jennifer Lopez and Alex Rodriguez are letting go of their $17 million New York City apartment, less than a year after buying it — and trading up to a bigger place, a friend of the couple tells PEOPLE.

"They need more space with the kids," says the friend of their three-bedroom spread in a luxury tower. "They love the building, but just need a bigger space then they originally thought."

Lopez, who shares 10-year-old twins Emme and Max with her ex Marc Anthony, and Rodriguez, who has daughters Natasha, 14, and Ella, 10, from a previous marriage, have seamlessly blended their families, Lopez told PEOPLE in December.

Jennifer Lopez Instagram

"I was so loving to his kids and he was so loving and accepting of mine, and they embraced each other right away. [It was] 'I get a new bonus brother and sisters to hang out with all the time and it's nice," says the Second Act star, adding, "Kids are so beautiful and open to love and new friends."

The couple's friend tells PEOPLE, "The kids are spending more time together. And when Jen and Alex are together, they like to have all the kids with them."

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The apartment, which the couple reportedly purchased in March 2018 for $15 million, is 4,000 square feet, but only has three bedrooms for the family of six.

A source tells Page Six that the space is "magnificently furnished." And while the furnishings are not included in the list price, "if someone would like to buy it furnished, they can."

The property, which is listed with Adam D. Modlin of Modlin Group, has a private elevator that leads to gallery opening onto a 29-ft.-by-29-ft. great room with views of Central Park.

Jennifer Lopez/Instagram

The kitchen has marble floors and countertops as well as an breakfast nook and center island. While the master suite boasts "generous" closet space, a dressing area, and two master baths with radiant heated floors and a soaking tub. The luxury high-rise residence has 12.6-foot ceilings and massive 10-ft.-by-10-ft. windows.

The fitness-focussed couple love the building's amenities, Page Six reports. It offers an indoor pool, gym, spa, massage room, steam room, sauna, and yoga studio. Other amenities on site include a library, billiards room, screening room, a private restaurant that also delivers room service, and a 24-hour valet.

Jennifer Lopez/Instagram

Lopez also recently listed another home in the city — her Flatiron District penthouse, for which she's asking $27 million. Modlin is also the listing agent on this property, which the singer and actress picked up in 2014 for a reported $22 million.

Reports first emerged that the power duo was moving in together shortly after Lopez put the 6,500-square-foot home on the market. At the time, a source exclusively told PEOPLE they were "looking for an apartment together for the whole family."

"They will invest together in a new home when they find the perfect one," the source said. "They are starting to make more financial decisions together. It's nice for Jennifer to be with a man who has his own money and spends it wisely."

Rodriguez is making real estate moves as well. He listed his home in L.A. for $6.5 million in November.

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