New York City Luxury Rental Blog Archives for February 2010

Cornered: The Corner, Formerly 200 West, Shows Its Face on Upper West Side

The new luxury rental building at 72nd Street and Broadway on the Upper West Side has yet to make it onto Luxury Rentals Manhattan, both because the building isn't yet ready for occupants and because we don't quite know what to call it. Formerly known as 200 West, the 19-story luxury rental tower is now known as The Corner. We do know a few things about it, though.

Heard on the Street: Financial District Rents Down 25 Percent From 2009

The Financial District is the oldest neighborhood in Manhattan, and home to some of the most beautiful buildings in New York City, but it's still in its infancy as a residential neighborhood. When the first luxury rentals in the Financial District opened their doors, they offered walk-to-work opportunities and... well, not much else. Since then, though, the Financial District has really come into its own. It's a 24-hour neighborhood now, with good restaurants and a nascent nightlife scene and grocery stores and everything else NYC dwellers expect from, like, a neighborhood.

Sad Landlords, Happy Renters: NYC Apartment Rents Are Even Flatter Than You Thought

We reported last week that rents on New York rental apartments have barely budged since 2009. New York real estate being New York real estate, rents still edged up a little, but the 1.6 percent increase was the smallest in 15 years.

Upside to the Down Real Estate Market: Manhattan Rents Rose Just 1.6 Percent Since January 2009

Recent years have been tough in Manhattan real estate, as they have throughout the economy as a whole. But there's one ray of sunshine amid all the clouds, and it's shining right on those looking for rental apartments in Manhattan. The New York Times reports that rental apartments in New York City saw their rents increase at the slowest rate since 1994 over the last 12 months.

Not Waiting for the Subway: REBNY Steps Up Lobbying Efforts On Second Station on 7 Train Extension, Boosting Hudson Yards Development

As we wrote at the Luxury Rentals Manhattan blog last week, the planned extension of the 7 train into the western hinterlands of Hudson Yards/West Clinton could provide a big boost for both rental apartments and condominium development in that area.

Feels Like Old Times: Ambitious Clinton Luxury Rental Development Studio City Hearkens Back To 2007

There was a time, a glorious golden era, when Manhattan rental apartments were as abundant as grains of sand at Coney Island, when new Manhattan luxury apartment buildings opened seemingly every day. Those salad days of Manhattan real estate weren't really all that long ago (and the sand-at-Coney-Island thing is obviously an overstatement) but those days feel pretty well gone at this point. The good news about NYC real estate, though, is that ambitious developments -- and the luxury rental apartments therein -- are something of a renewable resource.

Waiting for the Subway: What The 7 Train Extension Could Mean for Real Estate in Hudson Yards

The Second Avenue Subway gets the lion's share of attention -- a billion-dollar price tag and super-ambitious planning will do that -- but the city and the MTA are also working on another big subway project. The 7 Train, which currently terminates at Times Square, is being extended into the further reaches of Midtown West, the Hudson River-adjacent part of Manhattan that includes Clinton and Chelsea that occasionally goes by Hudson Yards.

Signs of Life: Stalled New Construction Rental Buildings in Manhattan Starting Up Again

The Manhattan rental market has seen its share of ups and downs of late -- or, more precisely, downs and ups -- but there may be some good news buried in the fact that, as Sarah Ryley reports at The Real Deal, several formerly dormant new rental apartment building developments have recently resumed construction.

What Are We Doing Here?

Luxury Rentals Manhattan is still getting off the ground, which explains why this blog has been so quiet thus far. But starting soon, this space is going to fill up with the things you absolutely need to know about New York City's real estate market. When new rental apartment buildings top out or new rental apartments hit the market, you'll hear about it here. When something big happens in the Manhattan real estate market or in the world of luxury apartment rentals, you'll hear about it here. When new apartment rental listings hit Luxury Rentals Manhattan's apartment database...