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Best Amenity Packed Buildings For Around $4,000 a Month

 

Rendering of EOS at 10 West 31st Street

With the rise of new developments in the city, people are expecting more offerings from their buildings. We’ve compiled a list of some of the best amenity-rich buildings that offer rental apartments for only around $4,000 a month.

Flatiron District Mix-Use Tower Nearing Completion

Plans at 7 West 21st Street for the 18-story mixed-use tower is nearing completion. Developers Friedland Properties and architect Morris Adjmi teamed up with Stephen B. Jacobs for the project.

10 Apartment Buildings with the Best Views of Manhattan

New York City is never short on breath-taking views. But what if you could see those views from the windows of your bedroom? We compiled a list (in no particular order!) of apartments with views that are second to none.

Top Rental Real Estate Predictions for NYC in 2016

The Living Room at Sky 605 West 42nd Street

Photo: The Living Room at 605 West 42nd Street

A new year has begun and rental predictions for NYC real estate in 2016 are already dynamic seedlings of thought. Although the city is a shapeshifting landscape with equally elusive intangible and concrete trends, it’s still fun to forecast the future.

The Island of Manhattan Still Has Room to Grow

Manhattan may be an island, but apartment inventory is unlimitedIt’s an old story at this point, but if you’ve been following the Manhattan rental apartment market at all, you know the drill: vacancy is down, rents are up, new construction is scarce, and concessions are rare. Among the many explanations as to how we got here - and there are plenty - one of the most prominent is that Manhattan is a small island where space is limited, hence the lack of inventory. The reality is that this real estate platitude is a lazy way of analyzing our current market, one which obscures far more accurate explanations. For instance, the tight credit market for large new construction projects, government restrictions such as historic districts, and long-standing preconceived notions about certain Manhattan neighborhoods have a far greater influence on Manhattan’s rental apartment inventory than the size of the island.

A Look at Some of Manhattan's Priciest Apartments

Let’s start this post off Interior of 144 Duane Street PHwith some basic economic theory. As we’ve written before, inventory on Manhattan apartments for rent is at an all-time low. Landlords are receiving multiple applications for their apartments, and waiting lists have gotten as backed up as having twelve people on them. With demand skyrocketing and supply scarce, basic market laws tell us one thing: prices for apartments are going to be high.

Manhattan Rental Inventory Could Increase By Late 2013

The WindermereWe’ve already written extensively about scarcity in the rental inventory in Manhattan. A lack of available apartments will be one of the dominant themes of 2012, mostly due to economic uncertainty. The current economic climate has had the dual effect of preventing developers from constructing new buildings, and pushing people who would otherwise buy condos into the rental market. Yesterday the Wall Street Journal published figures that quantify the market’s scarcity. There will be roughly 2,230 apartments for rent in Manhattan that will go on the market this year, the lowest amount since 2005, when the figure was first counted. And the vacancy rate for all luxury rentals in Manhattan is 1.27%.

The Continental in Midtown West Fills Up

The Continental—a 5The Continental3-story building on 32nd Street and Sixth Avenue—announced today that it is all sold out. That’s right, the building that lingered in construction for two years and underwent a name change filled up in less than a year. Call it the success story of the week, and good news for the high-priced, low inventoried rental market.

Manhattan Luxury Rental Market Continues to Rise in 2012

4 East 102nd Street, a new luxury rental on Manhattan's Upper East SideIn the Manhattan rental market in 2011, demand for rental apartments far outstripped supply. Both developers and lenders recognized that this pent-up demand made for ideal building conditions, which is why $2.9 billion worth of new residential projects began in New York City in 2011. That’s a 24% increase from 2010 according to data released by the New York Building Congress. Additionally, Manhattan’s slew of stalled construction sites - land controlled by developers who have obtained all the necessary construction permits yet have still halted work - has finally begun to shrink. According to the New York City Department of Buildings, Manhattan had 130 stalled construction sites at this time last year, and now that number has fallen to 114. Furthermore, the number of demolition permits issued in Manhattan rose from 2010 to 2011, so more developers are waiting to break ground. So all this new construction should alleviate demand in the near future, right? Not exactly. While this is undoubtedly a step in the right direction, it still falls well short of the kind of progress that would help bring down rental prices in Manhattan. If there’s a lesson to be learned from 2011, it’s that even rising inventory won’t slow down the Manhattan rental market, so we at Luxury Rentals Manhattan don’t expect rents to begin to fall in 2012.

Gotham West, Largest Affordable Housing Project, Breaks Ground Near Hudson Yards

Gotham WestNothing in recent Manhattan history has spurred development like Hudson Yards in Midtown West is now. Since 2005, the one-time site of Mayor Bloomberg’s failed Olympics bid has seen the construction of 15 Manhattan luxury condo buildings and 12 hotels. News about development projects in the area are released every day it seems, and every real estate insider projects that development will skyrocket in the Far West Side over the next several years. Even building projects not directly inside the Hudson Yards boundaries have the area to thank for their existence. Gotham West, a massive construction project that will take up an entire block, is one such building. From 44th to 45th Street and Tenth to Eleventh Avenue, Gotham West is a four-tower rental and condo hybrid that plans to offer 1,263 housing units, 556 of which will be apartments for rent.