Apartment rentals New York with Chelsea Apartments

Given that Chelsea is a neighborhood that almost everybody wants to live in, it is easy to understand why finding a vacant luxury rental apartment here is often a very difficult task. But there is now hope for such dispirited apartment hunters—check out the homes available for rent at Chelsea Park, the new luxury development at 260 West 26th Street in Manhattan.

Everyone knows that big changes are on the way for Hudson Yards. The old manufacturing area will be transformed in the next decade or two into an entirely new neighborhood, one replete with luxury apartment buildings, an ultra-modern office complex of angular high-rises, a new park, a new museum, a subway line, and even a new boulevard that will bisect the area. But if you were to look at the Hudson Yards site right now, it still looks much like it did ten or twenty years ago. Appearances can be deceiving though, because new development for luxury rental apartment buildings has thrived in the area over the past half-dozen years, and many newly constructed luxury rentals are already available. Considering that the Hudson Yards area has succeed in sustaining new construction at a time when such success is rare, this area is well-positioned to emerge as Manhattan’s next hot rental neighborhood.

It seems like we’re writing about new residential development projects in Manhattan every day, but commercial developments have become something of a lost art. Commercial buildings are less lucrative financially than residential buildings, where New York City’s constantly growing population keeps them in high demand. Most developers don’t want to risk leasing space to commercial industries, so today we are happy to report on a new project to build the area north of Madison Square Park into a commercial district called NoMad.

With Chelsea and the Flatiron District to the West and South, respectively, the area surrounding Madison Park is one of the most developed places in Manhattan, filled to the brim with high-end luxury condos for sale and apartments for rent. But the NoMad area itself remains relatively empty. It was a major area for bootlegged merchandise until recently, when developers saw the potential in turning it into an upscale commercial area. To encourage development, a couple savvy property owners lowered the rent for commercial buildings. Now they’re watching eagerly as potential culture-makers start nibbling at the bait. The new Museum of Mathematics, which opens next year, just recently leased space on 26th Street, and other projects are falling in line.

The ongoing economic recovery is good news both for Manhattan real estate developers and everyone who, you know, participates in the economy. That seems obvious, but it's worth mentioning mostly because all the recovery-related news here at the Luxury Rentals Manhattan job could easily be mistaken for a bummer by people searching for Manhattan rental apartments. Here there's news that NYC dwellers can no longer expect generous concessions on their Manhattan rental apartments. There there's news that Manhattan no-fee rental listings are not-so-gradually becoming an endangered species. Yes, it's good that the economy is apparently bouncing back. But where's the benefit for those looking for a Manhattan rental apartment? Well, it's coming, through what looks like a bumper crop of new construction luxury rental buildings that should arrive over the next year or two.