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Top 5 Best Boutique Rental Buildings

Silk Building 14 East 4th Street Luxury Rental Manhattan

Many apartments can claim to have the latest and greatest in luxury living, but these boutique rentals are truly unique, and each in a prime location.

Village Hospital Converts Into Rental

130 West 12th Street, the West Village's newest rental, is open for businessGreenwich Village is home to many architectural gems, and St. Vincent's Hospital has always been one of the best. After one of its old employee residences, 130 West 12th Street, was converted to a condominium last year, it sold out almost immediately. Now, many of the owners are renting out their apartments at surprisingly reasonable prices. One of the latest projects, the redevelopment of a former hospital, has now become a luxury rental. There is plenty of rental space available at 130 W. 12th St, as it is taking over the market. In early August, the first rental unit popped onto the market, which then led to five more rental units on the market currently. With this new building set in place, there surely will be a boost in the real estate market, due to the number of increasing leasings.

Manhattan Apartments See Rents Increase... Again

Manhattan Apartment Rentals - Rents IncreaseThe wealth of Manhattan real estate comes with a wealth of Manhattan real estate reports. Reports from the most recent quarter showed activity in the market, but at slower rates than the previous quarter and last year, and with pricier trends.  So indeed, that chorus of renters' sighs heard around the city this past Friday came from a usual suspect: the rental market report.

Manhattan rental market reports show rents going up in the third quarter this year, while the number of new luxury Manhattan rentals continues to fall. They also indicate that NYC landlords are taking the glitter-out-of-the-envelope in terms of concessions. And as rent goes rises across the board, The New York Times reports that many tired Manhattan tenants with end-of-the-run leases have received stark demands for higher rent, and are consequently shopping around for more affordable options.

High Five (Figures): Demand For Ultra High-End Manhattan Rentals Continues Surge

The Manhattan real estate market is a complicated thing, as any regular Luxury Rentals Manhattan visitor -- and anyone who has ever tried to find a rental apartment in Manhattan -- could tell you. But one of the most peculiar features of the ongoing turnaround in the Manhattan rental marketplace is just how much more quickly the market for high-end Manhattan luxury rentals has turned around than has, say, the market for $2500-per-month Manhattan rental apartments. Given that there are more people in New York capable of paying more modest monthly rents than there are those willing or able to cut five-figure checks on the first of each month, the turnaround would seem to be somewhat backwards. But this is Manhattan real estate, and the top-down turnaround has become both harder and harder to ignore and -- per a recent New York Times report -- even more pronounced in the early months of summer. The demand for five-figure NYC rental apartments has been higher than that for smaller, less expensive Manhattan apartments.  So, what exactly does this mean for Manhattan real estate?

That Spring Bump In Manhattan Rental Prices? It's Late, But It's Here.

Studio vs 2 Bedroom Rental PricesHere at Luxury Rentals Manhattan we’ve kept an eagle-eye on the recently-calm state of the luxury rental market for you, although we'll admit that at times it was like watching paint dry. Month after month, and well into the anticipated warm-weather boom period, Manhattan rental stats remained boldly, brazenly blah -- up a healthy percentage over last year's counterparts, but inching up only a fraction of a percent month to month. Sure, we warned that a bump in Manhattan rental prices was coming -- we're a blog about Manhattan real estate, and as such know what's coming. But after months of the same warnings, a sort of a chicken little vibe became almost inescapable. As we’ve previously noted, rents barely rose month-to-month this year as landlords have remained prudent, hedging their bets on a a strong spring eliminating the last vestiges of ennui from the market. And now, as June dawns in a flurry of sticky 90 degree days, it seems like spring has finally sprung in the Manhattan luxury rental marketplace.