Apartment rentals New York with Brooklyn

On Tuesday, the Landmarks Preservation Commission reviewed Two Trees’ plans for the Domino Sugar Refinery, and now it’s back to the drawing board for the Williamsburg site after the plan received mixed reviews.

For the second straight month, the median rental price of a Manhattan apartment declined from the same month last year, according to the October rental report by Elliman. The median rent in Manhattan for October was $3,150, a 1.6 percent drop from October 2012’s $3,200. Prior to September, Manhattan had seen 26 consecutive months of increased rents when compared to the same month from the previous year.

Residential real estate is booming in New York City, with new developments like Essex Crossing, 626 First Avenue, Gotham West, Gantry Park Landing & Chelsea Park seemingly rising on a daily basis. With a city-wide inventory shortage, there is no reason to expect this trend to slow down, and that makes residential development a highly attractive option for new developers to get in on the action.