Apartment rentals New York with Apartments Near Soho

Hold On to Your Hats (And Wallets): Bidding Wars Return to Manhattan Rentals

Monthly Apartment Vacancy Rates in ManhattanSummer has struck New York City in in all its sunny glory: ninety degree days, Shakespeare in the Park, and a humidity heavy enough to peel paint at fifty paces. And as those with a sharp eye on Manhattan real estate listings know, the temperature isn’t the only aspect of New York City that is heating up. We here at Luxury Rentals Manhattan have been anticipating -- loudly and often -- the onset of summer sparking an upswing in the New York City rental market, resulting in a bump in rents and a drop in vacancies. As we’ve warned, renters have been paying fees and winning fewer concessions. But now a sign of the real estate market’s growing robustness has appeared that hasn’t been seen since the economic halcyon days: renter bidding wars.