New York City Luxury Rental Blog Archives for May 2012

How to Find Deals Without Leaving Manhattan

Apartment renters can still find deals in Manhattan if they look closelyDo you hear that? It’s the sound of taxicabs buzzing by and New York residents stomping their way to work; the sound of busy restaurants serving customers at their outdoor tables; the sound of dogs roughhousing in the dog runs at Central Park. Yes, Manhattan is alive and well, so it's no surprise that millions are trying to make Manhattan their permanent home, although high rents are making it hard for many. This financial duress is causing some to look across the river and to the north to find affordable rental apartments. But savvy renters shouldn't lose hope, because those that have been persistent enough to keep looking for high-quality rental apartments in Manhattan are still finding deals.

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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.

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Newly Renovated Luxury Buildings Bring Renters to the Upper West Side

Renovated pre-war rental apartments are hot commodities on the Upper West SidePromising renovations on the Upper West Side have hedge fund managers and Manhattan fashionistas alike suggesting that this prosperous area is now the cool new place for luxury apartment renters to call home. The Upper West Side, which used to hold more unrenovated than renovated pre-war buildings, has seen a refreshing change of pace as high-quality renovations have drawn the attention of renters looking for pre-war places. Thanks to those changes, many renters now consider the area trendy, making real estate brokers and management companies even more eager to rent out those apartments.

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April Brings More Record-Breaking Rentals

Without surprise, market reports released early in May revealed that Manhattan’s apartment rental rates are staying above pre-recession levels as they continued to climb throughout the month of April. As Luxury Rentals Manhattan has continuously reported, New York's lack of available rental units is the primary cause of these skyrocketing rates.

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Virtual Real Estate: Why Real Estate is Dependent Upon Social Media

LRMFacebookNew York City’s rental market moves at a rapid place, and to keep up with its ever-changing conditions, the Internet is necessary. Social media websites provide users with platforms to interact with others in the market, and quickly become informed about the latest property news, listings, and transactions. Here at Luxury Rentals Manhattan, we realize that our readers utilize social media regularly, so we have recently launched our very own Facebook page.

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