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Beat the Heat: Hottest NYC Rentals Near Parks

As the weather continues to heat up, New Yorkers flock to nearby parks to enjoy the beautiful summer sun. But escaping the concrete and tall towers is even easier when the green grass is only a few steps away! Here are three of the most luxurious rentals all conveniently located near some of New York's greatest parks.

Manhattan West’s Eugene Building is Now Complete

Manhattan West’s first rental building is now complete, on the market, and open to residents! The Eugene, located at 435 West 31st Street was developed by Brookfield Properties and Skidmore and stands 62 stories tall, and holds a total of 844 apartments ranging from studios to three-bedrooms, which are now welcoming residents.

Trading Up: Financial District's Most Expensive Rental Buildings

8 Spruce Street luxury apartments showcase great views of the city and water.

Manhattan’s Financial District has a rich history as the nation’s center of commerce. While this undeniable status remains true, this Lower Manhattan neighborhood is slowly regaining a reputation for luxury residential apartments. This five luxury buildings in particular feature some of Manhattan’s most stunning residences, and are among the neighborhood’s priciest.

What It's Like Living in Manhattan's Priciest Rentals

Views from a luxury apartment in Olympic Tower.

It’s been almost a year since we reported on the Pierre Hotel’s 39th floor apartment, that, at $500,000 per month, clocks in as New York’s priciest rental. Turns out, it’s also the second most expensive rental in the entire country. 2 East 61st Street is a 4,786 sq ft six-bedroom apartment that spans the entire 39th floor of the Pierre Hotel, which recently underwent $100 million in renovations.

Tribeca Time: 4 Luxury Rental Buildings in One of Manhattan's Most Loved Neighborhoods

Views of the balcony and Tribeca skyline from a 101 Warren Street luxury apartment.

Full of creative celebrities and lined with Manhattan’s last remaining cobblestone streets — not to mention a world-renowned film festivalTribeca’s luxury rentals offer plenty of style in one of the city’s coolest neighborhoods.

New Trends: International Luxury for International Renters

Airbnb

It’s a well known fact that international investors play a huge role in Manhattan’s real estate scene, especially in the ultra-luxury sector — but as it turns out, international tenants make up a significant part of the luxury rental market too. In general, the Manhattan housing market is dominated by rentals, with condos and co-ops taking a backseat, and with a brilliant run of new constructions, the luxury sector in particular has grown consistently.

Rent a Villa Via Luxury Retreats

A Spa Room at The Club at 4705 Center Boulevard in Long Island City

A sauna in The Club at 4705 Center Boulevard in Long Island City.

The startup company Luxury Retreats offers vacation rentals complete with some luxurious perks. In 1999, Joe Poulin founded what has been dubbed Airbnb for the 1 percent, Luxury Retreats, which lists vacation mansions and apartments with prices often exceeding $1,000 per night, reports the Real Deal.

Resourceful and Entrepreneurial Millennials Look to Rentals

millennial renting trends - luxury rentals manhattan

It seems that buying is no longer the best option....or that’s what Millennials in Manhattan seem to think. While many young professionals in New York can afford to put a down payment on a six-figure apartment, they are choosing to rent instead. According to the Observer, “With their increasingly mobile jobs and lifestyles successful New Yorkers in their 20s and 30s are shying away from making a commitment to one city, let alone one apartment. And despite Manhattan’s astronomical rents, it’s costlier still to buy here with the average Manhattan apartment now going for $1.73 million, a record high.”

Warm February Weather Creates an Even Warmer Market

Warm temps bolsterd the Manhattan rental apartment marketFebruary is traditionally the slowest month of the year in Manhattan real estate, a month known for giving renters a chance to find deals. In Februaries past, landlords offered more concessions in order to stimulate demand. This year, the opposite happened. Even given the context of low inventory, few new apartments coming on the market, and high demand, February still exceeded expectations for apartments in every Manhattan neighborhood. Landlords cut back on concessions and raised rents, and the high temperatures brought out far more renters than expected; the high volume of activity far surpassed traditional winter levels. If this is any indication, rents for apartments in Manhattan will keep rising in the spring, the busiest season of the year.