Apartment rentals New York with Upper East Side Rentals

By the admittedly pricey (some would even argue too-damn-high) standards for Manhattan rental listings, Murray Hill rental listings are among the best value per square foot in NYC real estate. Which, come to think of it, probably has something to do with why they're among the most popular rental listings on Luxury Rentals Manhattan. But while there's plenty to recommend about Murray Hill, it's also a neighborhood with some image issues. Yes, it's home to a host of appealing luxury rental buildings, from the venerable Windsor Court to new construction blockbusters like the Costas Kondylis-designed Anthem. But Murray Hill's reputation as a party-happy 'hood favored by younger twentysomethings has led it to be labeled something of an urban suburb. Which is fair only insofar as any suburb anywhere can boast the knockout Indian food on offer in Curry Hill, or a bar scene half as lively as that spanning Third Avenue in Murray Hill. A new essay in the New York Times on the post-grad scene in Murray Hill won't help that reputation much, which is no doubt fine with the twentysomethings (and thirty-, forty- and so-on-somethings) who call the neighborhood home. But is it fair?

Looks nice, doesn't it? A clean, modern subway station, a train pulling up right on time. Eventually, at some point in human history, something somewhat like the little image you see with this post will undoubtedly occur somewhere under Second Avenue on Manhattan's Upper East Side. For all the things to recommend about Upper East Side apartment listings -- and there are plenty, starting with their relative affordability in comparison to other Manhattan rental apartments -- subway access isn't currently one of them. Sure, the 4/5/6 trains on Lexington Avenue run pretty well, but they're the only trains on the Upper East Side, and can get excruciatingly crowded (and sluggish) come rush hour. News that the long-rumored, longer-awaited Second Avenue Subway was really happening was the cause of much rejoicing both among Upper East Side renters and UES landlords, whose apartments seemed poised to become that much more appealing. Today brought the sad and sadly unsurprising news, though, that the Second Avenue Subway is both behind schedule and over-cost -- and not likely to arrive in time for its original 2016 launch.

First things first: there are still plenty of good deals out there on Manhattan rental apartments, and even a healthy number of no-fee rental listings in Manhattan. But as the economy continues its slow bounce-back and the Manhattan real estate market follows suit, it looks more and more like the long renter's market for NYC apartments is drawing to a close. The Real Deal's report on May's Manhattan apartment rental statistics bears this out: citywide apartment vacancy is down to under one percent again, and finding a West Village rental (a .33% vacancy rate) or a rental apartment in Chelsea (.52% vacancy rate) is as hard as it has been in years. But, thankfully, at least for those looking for Manhattan rental apartments, May's stats are not all bad news.