Apartment rentals New York with Luxury Rentals in Gramercy

February’s Rental Report: Downtown Still Dominates

Luxury apartment at 57 Reade Street.

Living room at a luxury apartment at 57 Reade Street.

Zumper's February’s Rental Report has been released, and its data revealed New York City’s rental market is still second only to San Francisco in its fierce competitiveness and monthly rental price. While 1- and 2-bedrooms are up 7.3 and 3.1 percent, respectively, from last year, February was a slightly less expensive month than January, showing a 1.8 decrease for 1-bedrooms and a 2.4 percent fall for 2-bedrooms.

Renovations Take Over Manhattan Rentals

Extreme Makeover: Luxury Rental Apartment Edition? That seems to be what many New York City landlords are going for. Luxury Rentals Manhattan has tirelessly covered the market’s high demand for rental units, with rates reaching all-time highs throughout the spring. This, along with a shift in the demographic of renters towards the higher-end, is prompting many landlords to finance million-dollar renovations in hopes of raising rental rates by 10 to 40 percent. And really, many of them are nervous that they aren't keeping up with the rising standards for rental apartments in Manhattan. This is good news for residents looking to live in luxury apartments without having to buy, even if their rent rises with the quality level.

What Can Prosciutto Do For You: Has Mario Batali's Eataly Helped Murray Hill Rentals?

We're on the record here at the Luxury Rentals Manhattan blog with our feelings about new neighborhoods. But if you need a refresher, we're willing to entertain the possibility that neighborhoods such as The Linc (i.e. Hudson Yards) and NoMad could become hot new Manhattan residential 'hoods, but we're not necessarily on board with the goofy names. NoMad is the not-so-convincing but also not-so-bad name given to the rising neighborhood on the fringes of Murray Hill and Gramercy. We write about NoMad not because we're lovers of real estate conjuncto-neologisms -- although, of course, who isn't? -- but because it's actually a really interesting young neighborhood, and home to a couple of excellent rental listings, most notably The Biltmore Plaza and Madison Belvedere. More importantly, though, NoMad has a real buzz about it, thanks in large part to destination hangouts like Ace Hotel, a host of new luxury condos, and a bumper crop of hot new eateries. To say that Eataly, the blockbuster new Mario Batali-helmed Italian food emporium, has become one of NoMad's signature landmarks is a huge understatement. Eataly, in just a few short months in business, has helped make NoMad one of Manhattan's hottest food neighborhoods -- and boosted this sub-neighborhood's fortunes even higher. Especially among those of us who enjoy prosciutto.

Tear Down That Wall? The Quest To Open Gramercy Park To NYC Dwellers Continues

There are a great many reasons to look for a luxury rental in Gramercy Park -- greater Gramercy is a beautiful neighborhood with plenty of nice restaurants, some charmingly low-key nightspots and several really nice rental apartment listings. But as much as we at Luxury Rentals Manhattan love us some Lex Lofts or Park 23, there's one thing that a rental apartment in Gramercy will never boast: access to the actual Gramercy Park. Keys to Gramercy Park are among the most elusive prizes in Manhattan real estate, and even people who own their apartments on Gramercy Park are denied keys. If you don't own one of the 39 town houses surrounding Gramercy Park, the best you can hope for is to look through the high, wrought-iron fence surrounding Gramercy Park's eponymous green space. But will it always be thus?