New York City Luxury Rental Blog Archives for January 2013

Art’s in the House: 3 Manhattan Rentals Hosting Impressive Pieces of Art

Manhattan Rentals with Artwork

New York is a city of art lovers. Be it in the relaxed spaces of the city’s charming art galleries, or even by scouting out the various public installations on the streets, New Yorkers are always on the lookout for their daily dose of art. This could explain why many luxury rental buildings in the city are using some of their space to host and display impressive pieces of artwork, which, besides serving as a conversation starter for their residents, also amps up the glamor quotient of the buildings. Here’s a list of three Manhattan buildings that showcase some impressive pieces of art in their premises:

Relocation Therapy: Top 5 Rental Buildings in New York City

Top 5 Rentals in New York City Today

A recent article in The New York Times talked about how New Yorkers dealing with critical situations in their lives have turned to a new kind of therapy to help them deal with it: relocation therapy. As it turns out, moving into a new home has had positive effects on people facing all kinds of tough scenarios. You could be wanting to get away from a messy divorce, or maybe you could be wanting a simple change of place—regardless of the reason, a new address could be just what you need to start your life anew. So if you think you need some relocation therapy in your life, here are five of our top picks on where to get a fabulous new home:

Hike in Demand For Long Island City Residences

Hike in Demand for Homes in Long Island City

Although it is one of New York City’s “newer” residential neighborhoods, the real estate scene in Long Island City has been on an upswing for quite some time now. The neighborhood’s luxury housing market in particular has been doing extremely well, with many New Yorkers dismayed by the high rents of apartments in Manhattan looking to Long Island City for more affordable alternatives. However, this increased demand has led to hikes in the rents here as well, with a recent market report saying that Long Island City rentals have seen a $50 monthly rise from their values last year.

Report: Better Rental Deals in Manhattan, As Compared to Brooklyn

Better Rental Deals to be found in Manhattan, MNS Report Says

After finding it difficult to find a Manhattan rental that fit both their budget and their specifications, it was rather commonplace in the past for New Yorkers to take their apartment hunt to Brooklyn instead. However, these days, a reversal of this trend is happening—recent rental reports suggest that with apartments in Kings County seeing a surge in rents, many apartment hunters are realizing that they may be getting better deals by renting homes in Manhattan itself.

Concessions Decline Along With Rents in Manhattan

In Manhattan's tight rental market, landlords are offering fewer concessions than before.

Here’s something that should put a smile on the faces of apartment hunters in New York City. Rental reports from Douglas Elliman and Citi Habitats for the month of December say that average rents for apartments in Manhattan have once again decreased, with the average rent coming to just $3,284 a month, an appreciable dip from the whopping average rent of $3,461 that was seen in August. With tight credit conditions forcing many New Yorkers to abandon plans for buying a home, rentals continue to be very much in demand, resulting in a very tight market.

Exclusive Photo: Crane Collapse in Long Island City

 

Long Island City Crane Collapse - Luxury Rental Manhattan

Around 2:30 PM yesterday, the metal scaffolding and wood planking gave way on a crane at a TF Cornerstone luxury rental site in Long Island City, Queens. The crane collapse comes after another high profile collapse at One57 during Hurricane Sandy in late October. With 7 people injured, this crane collapse puts New York Crane and Equipment Corp. in hot water. Owner James Lomma was tried and acquitted of manslaughter charges in conjunction with a crane collapse in 2008.

Will 2013 Be a Good Year for NYC’s Luxury Rental Market?

2012 was an interesting year for the luxury rental apartment market in New York City. New Yorkers saw rents for homes in the city zooming upward over the course of the year, while the number of vacant apartments in the market stopped to extremely low levels. But as tumultuous as these occurrences may seem, members of the real estate sector were smiling, as they could see that the market was not only alive, but it was doing extremely well too! With last year putting on such a good show, one wonders: will 2013 be able to repeat the performance of its predecessor?