Apartment rentals New York with Clinton Rental Listings

In an unexpected twist, Related Cos. elected to switch the luxury condos in MiMa, their 63-story glass high-rise on 42nd Street and 10th Avenue in Midtown West, to luxury rentals. Related planned for over 3 years to sell the 151 units as luxury condos, all located above the 50th floor of MiMa. The 663 luxury rentals on the lower stories were always been designated as rentals, but this sudden reversal to an all-rental building rather than a mixed sales and rentals building is more telling than it appears, though not in the way we might initially assume. This is not a case of desperate landlords panicking and using the luxury rental market as a safety net. Rather, this is a calculated decision based on the strengths and weaknesses of the rental and sales markets. If Related is making a smart decision, and it certainly appears that way, then MiMa's move to rental bodes well for the luxury rental market in Manhattan.

Manhattan real estate is the land of acronyms and abbreviations, and from Soho apartment listings to FiDi rentals to apartments on the LES, it's one that New Yorkers speak every day without even noticing it. So, in a certain sense, MiMA -- a hybrid new luxury rental and condominium building from The Related Companies whose name is short for Middle of Manhattan -- fits right in. In just about every other way, though, MiMA stands out -- for its location on 42nd Street and 10th Avenue, at the heart of booming Clinton; for its stellar suite of amenities; for its luxurious (and not-at-all cheap) apartments for rent. MiMA is as ambitious and extravagantly amenitized a new construction luxury rental development as Manhattan has seen since... well, since Midtown West neighbor The Ashley, probably. But MiMA is also further proof that Manhattan's high-end rental market is returning to robust health -- Manhattan rental listings don't come much more luxurious than this.