Apartment rentals New York with Apartments Near Murray Hill

Murray Hill’s unique location in Midtown Manhattan has made it one of the more desirable neighborhoods to live in New York City. After all, residents here are near the city’s famous hotspots, be it the bright frenzy of Times Square or the refined elegance of Gramercy Park. But Murray Hill itself has its own particular charm, made apparent with the variety of retail and dining options available in the area. As a result, the neighborhood has been attracting Manhattan home hunters by the dozen, a fact that has not been missed by New York’s real estate developers. This could therefore be one of the reasons why Manhattan-based real estate investment firm Atlas Capital Group has bought the Eastgate Tower Hotel at 224 East 39th Street, with the intention of converting the 147,000-square-foot property into a 190-unit luxury rental building.

Summer 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.