Apartment rentals New York with Greenwich Village Rentals

Greenwich 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.

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?