Apartment rentals New York with Manhattan Apartments

Ordinarily, the Luxury Rentals Manhattan "Service Corner" tag is reserved for lighter, more service-oriented posts -- which Manhattan neighborhoods offer the best selection of Chinese food, for instance. But while that sort of thing is no doubt important to dumpling enthusiasts -- and LRM readers know that we're already on the record on that issue -- it's not nearly as important as, say, not getting scammed when searching for a Manhattan rental apartment. That sort of thing is rare, but not nearly as rare as it should be, which is why we at Luxury Rentals Manhattan have a renter's guide on our site, and why we so closely vett the agents to whom we refer those interested in our NYC rental listings. Working with people you trust, especially when it comes to real estate agents, takes a lot of uncertainty and unpleasantness out of the Manhattan apartment search process. And, as a recent article in the Wall Street Journal reveals, working with people you cannot trust can take a lot of money out of your pocket. And so the Service Corner tag is revived, in the service (ha) of a much more serious post. After the jump: how not to get played.

Time flies when you're writing about real estate. It seems like only a few months ago that we had a post at the Luxury Rentals Manhattan blog entitled "Sad Landlords, Happy Renters." And that's because, as it turns out, it was only a few months ago -- it was only April that the renter's market for Manhattan rental listings was that robust. Since then, though, things have changed -- as the Manhattan real estate market has returned to health, the concessions, incentives and price breaks that defined the renter's market in Manhattan real estate have largely fallen by the wayside. This was already starting to happen back in May, and by late August we were writing mournful posts with titles like "Vacancies Down, Rents Up On NYC Apartments." The lessons of all this? For one, we obviously like that particular style of headline construction. But for another, despite the fact that there are still no-fee apartment listings and good deals on Manhattan rental apartments to be found out there, things have been trending in landlords' direction for some time. That doesn't make it any more exciting to read the New York Times' recent rundown of that situation, but it does at least make things less surprising. Good news, bad news, after the jump.

As we've written before, and proved time and again, the Luxury Rentals Manhattan blog is secretly about food. Yes, we write about Manhattan rental apartments most of the time, but from the neighborhood-enhancing aspects of Shake Shack to the farmers markets of the Financial District, we will definitely write something about food when the time's right (or when there's nothing else to write about). Today, thankfully, our two usual topics -- food and Manhattan luxury rentals -- have come together in a bit of good news involving the green rental listings of Battery Park City. As Manhattan real estate heads know, many Battery Park City rental listings are green rentals, but the ones developed by Manhattan green rental superstars The Albanese Organization have taken green building a step further -- by actually providing access to fresh greens (and tomatoes, and beans, and corn, and potatoes) to residents of Battery Park green rental stars The Solaire and The Verdesian. The pioneering CSA-delivery program set up by The Albanese Organization is another reason why they're officially LRM heroes, and more proof that Battery Park City is one of the greenest and most appealing places to live in Manhattan.

NYC dwellers have a dysfunctional relationship with the subway. We love it, of course -- even with fare hikes (and there are reportedly more on the way), it gets us where we need to go for a couple dollars, and keeps cars off the streets. And yet, it's hard not to hate it, sometimes (did we mention those upcoming fare hikes?) But the simple fact is that Manhattan real estate needs the subway. That's why we cheered the expansion of the 7 train into Clinton and West Chelsea, and why we're anxiously awaiting the opening of the Second Avenue subway. But with service cuts already in effect in the outer boroughs and many bus lines either reduced to banker's hours or disappeared entirely, New Yorkers are feeling more conflicted about the subway than ever. The Wall Street Journal, in a subscription-only article, recently charged subway service changes with depressing home sales in various neighborhoods in Queens and Brooklyn. Now, neither Queens nor Brooklyn nor apartment sales are our thing (although we do the NYC apartment sales thing, too), but the question still holds for people searching for rental apartments in Manhattan. The question being, how are subway changes changing the way we look for rental apartments in NYC?

The three most important words in real estate, as even non-real estate types know, are location, location and location. This would be why we worked so hard on the "Apartments Near" modality at Luxury Rentals Manhattan. But if we could add a fourth word to real estate's holy (and wholly redundant) trinity, it would be "scarcity." You don't need to be Paul Krugman to know how this works -- the fewer available rental apartments there are, the more prices tend to climb. (Scarcity has always been a big part of the appeal of no-fee rental apartment listings -- in addition to the fact that no fee rentals are a great value, naturally -- but we're already seeing the effects of an improving NYC real estate market in the shrinking number of no-fee rental apartments) The fact that Manhattan's rental vacancy rate continues to fall further and further below one percent suggests that, as previous studies have indicated, the recovering NYC rental market is going to lead to higher prices on Manhattan rental apartments. With the usual caveat that there are still plenty of good deals on Manhattan rental apartments to be found -- and with the reminder that you can browse Manhattan rental listings here to find them -- let's take a look at what Citi Habitats' new Manhattan rental market report means for NYC rental apartment hunters, and everyone else.