Apartment rentals New York with Lower East Side Apartments

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.

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.

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stayed so affordable for so long was that people perceived it as being dangerous, although today that perception is outdated and, frankly, downright false, and has been for years.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.