Apartment rentals New York with Lower East Side Apartments

Another Residential Building Added to the Lower East Side

Renderings of 259 Clinton st. 

The skyline of the Lower East Side continues to change, with L+M Partners and CIM Group’s towers at 259 Cherry Street, as well as Extell’s condo building at One Manhattan, and now, joining these two large development projects at 259 Clinton Street, Eastman Architects will bring the 724-foot, glass tower that will hold 732 apartments within the 62-stories.

Updated Rental Report: The Ups and Downs

The newest numbers are in, and it’s no surprise to see that overall Manhattan and Brooklyn rental prices are still up from 2012, but some of the month-to-month numbers might surprise you.

Rents Rise Along With the Temperatures in Manhattan

Rents rise along with the temperatures in Manhattan

Winter is on its way out in Manhattan, and accompanying the rise in temperatures is a corresponding increase in the rental prices for apartments in the city. The latest rental market report from MNS says that rents rose by 0.92 per cent in February, which is the first indication of the market reversing the downward slump that it has been experiencing over the past few months. Vacancy rates in Manhattan continue to remain low, and these could serve as a reason for rents to shoot up further in the coming summer months.

Low Rents and Cool Culture Draws Residents to Alphabet City

Despite the seemingly kid-friendly name of Alphabet City, this neighborhood situated within the Lower East Side was, for a long time, known as one of the gritty and grimy neighborhoods of New York City. However, the wild days of Alphabet City have drawn to a close and the neighborhood today has become an increasingly desirable place for young people and families, who are taking advantage of Alphabet City’s transformation into one of Manhattan’s hip, trendy and, most importantly, affordable neighborhoods to live in.

New Construction in Alphabet City Spells Success

When trying to rent a space in a market as competitive as New York City, reputation can oftentimes make or break the deal. Despite a reputation as out of the way and gritty, Alphabet City is proving otherwise, going against the grain and raising areas such as Avenue D to exciting new levels. Perhaps it's the economic pressure created by Manhattan's historically high rents, but many younger renters are turning to Alphabet City to find affordable rentals and are finding that the neighborhood is both hip and safe. Part of the reason that rental apartments in Alphabet City stayed so affordable for so long was that people perceived it as being dangerous, although today that perception is outdated and, frankly, downright false, and has been for years. The 90s saw a shift in the neighborhood environment, and along with these newly restored districts came increasing real estate projects promising to enhance the value of the apartments in Alphabet City.