Apartment rentals New York with Manhattan Luxury Apartments

New Rental Building with Spectacular Views of Bryant Park

More spectacular views of Bryant Park will be had by future residents who will occupy the soon-to-be rental building at 1050 Avenue of the Americas. The plans for this 24-story building were filed by Skyline Developers in December of 2014, and are finally taking effect, putting $26 million into the project.

VIA 57th West, BIG, and the New Luxury Apartment

Facade of the luxury new construction, VIA 57th West.

Facade of VIA 57th West, designed by Bjarke Ingels.

Bjarke Ingels’ latest residential project in NYC, VIA 57th West, is one of the most remarkable projects to hit Manhattan’s streets in a long time.

Luxury Living at the Brooklyn Bridge

View of the Brooklyn Bridge from 50 Water Street Condos.

The Brooklyn Bridge is one of New York City’s top attractions, as it is a National Historic Monument, and a picturesque piece of the Manhattan skyline. This iconic image is framed in the homes of many people, but few can say their window frames the authentic view. These four luxury apartments are in the perfect location for breathtaking scenes of the Brooklyn Bridge.

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.”

Why Renting May Be Better Than Owning in Manhattan

Recent reports heralding the arrival of the 275 square foot micro rental apartments in Manhattan have reinforced the notion that apartments for rent in New York City are small, uncomfortable and unpleasant to live in. This is a belief that has been perpetuated for several years, thanks to television shows and movies that showcase New Yorkers living their busy lives in cramped spaces. However, while there may be some residences that fit the stereotype, these images are certainly not representative of all rentals in the city. Several of the city’s newest and finest residential developments are offering apartments for rent, with residents enjoying sensational lifestyles that could give homeowners a run for their money.

Spring Is Officially Here As Manhattan Rentals Hold Steady

Spring came early for luxury rentals in Manhattan in 2012When is a plateau not a plateau? Well, when a market dips at the same time every year for years on end, and then all of sudden it doesn’t, that even keel isn’t mundane at all. Quite the opposite: the absence of winter’s usual decline in rental market activity for luxury rentals in Manhattan couldn’t be more noteworthy. A recent market report showed that rents for Manhattan apartments have been essentially unchanged since October, which means that the usual winter season never materialized. We skipped right over it. Looking back to this time last year, rents are up across the board, especially for two-bedrooms, which is the most distinctive shift. Whereas rent increases in studios apartments in Manhattan led the way in March 2010 and 2011, large apartments are now taking the lead.

Manhattan Rents Will Keep Rising in 2012 and Beyond

Luxury Rentals in Manhattan are likely to keep getting more expensiveThe luxury rental market boom in Manhattan is just getting started. A dearth of new construction for Manhattan apartment buildings, severe lack of inventory, and high demand for luxury rentals in Manhattan virtually assures that prices will not only stay high or get higher on the top end of the market, they will likely rise for the lower end as well. Rents are soaring right now all around the borough, especially south of 59th Street. Desirable Manhattan neighborhoods like the West Village and Chelsea are setting records for high rents, but rents for formerly inexpensive apartments in Midtown West and the Financial District are also reaching new heights. Studios in Chelsea average $2,332 a month, while one-bedrooms in the West Village average $3,278 a month. Furthermore, newer buildings like 8 Spruce Street have raised the bar for luxury rentals in Manhattan. 8 Spruce in particular has changed the perception that renting is somehow less respectable than buying by offering luxury apartments that match the quality of condos. All over the city, landlords are responding by renovating their rental apartments to meet these new standards, so even though you may pay more for rent than you’d like to, you’ll get more in return.

Wall Street's Woes Don't Slow Down Manhattan Rentals

Wall Street has always influenced apartment rentals in ManhattanWall Street has been front page news ever since Lehman Brothers went under back in 2008, and the adverse times that followed for the financial sector have been especially troubling in the Manhattan luxury real estate world, where the sales and rental markets have traditionally been upheld by young financiers with money to spend. But it turns out that the relationship between Wall Street and the Manhattan rental apartment market is not as strong as once believed, because Wall Street's struggles have yet to affect the luxury rental market.

According to data compiled by Nancy Packes Inc., 58% of renters below 96th Street in Manhattan made their money in finance in 2005. This year that number is down to 41%, yet the market hasn’t missed a beat. What changed? The economic landscape of New York City is now broadening and diversifying as tech- and creative-companies fill the void left by the decline of Wall Street. People in the tech and creative sectors now account for 12.8% and 13.5% of leases south of 96th Street, respectively, up from 7.2% and 8.57% in 2005. The tech-industry especially has picked up the slack for the Street, so times really have changed - brokers are almost as likely to run into a computer programmer looking to lease an apartment in Manhattan as they are a banker.

Asking the Experts: What the 2012 Manhattan Rental Market Will Look Like

In honor of the new year the Real Deal solicited a group of real estate experts and industry insiders to get their opinions on where the Manhattan rental real estate market is headed in 2012. The experts agreed almost unanimously that conditions will be similar to how they were in 2011. Apartments for rent, they said, will still be in the grip of a strong market, and ultraluxury rental apartments will do particularly well. There was general consensus that average rent will either stay the same, or increase slightly over the year. Many experts said that high and stable rents will force condo and co-op prices upward, and most agreed that the rental market would overall be steadier than the purchase market.

The Mad Dash for Manhattan Rentals

Manhattan renters sprinting for rentals

The journey towards securing an apartment for rent is often chaotic, unpredictable and needlessly time consuming. The myriad of decisions that you will have to make range from choosing the type of apartment, broker or no broker, access to neighborhood amenities, etc. In short, the process can often be strenuous and stress-inducing for many Manhattan renters. And when you consider the fact that many of the more desirable rentals do not appear on the market until mere weeks before an anticipated move-in date (that is, if they appear on the market at all), the metaphorical race to arrive at a dream apartment for rent in Manhattan is one more suited for the seasoned sprinters than the recreational joggers.