New York City Luxury Rental Blog Archives for March 2014

Breather Offers Quiet, Private Space for Rent in NYC

Breather in SoHo

In New York City, rentals dominate. Approximately two-thirds of the City’s residents don’t own the apartment they live in. But there’s more than just apartments for rent. One can rent a bicycle from Citi Bike, a Kayak at the Brooklyn Bridge Park, a car from ZipCar, temporary lodging from Airbnb, etc. And now there’s a new commodity up for rent—space.

February Rental Report: Who's Hip?

Brooklyn Manhattan Skyline

In February 2014, the median rental price in the borough of Manhattan has fallen once again from the previous month, January 2014, at a rate of -0.4%. This equates to six total months of median rental decrease. Since last summer rent can be considered as remaining flat, but although the decreases are definitely on a small incremental scale, they are in fact continuing to decrease. Giving Manhattan renters something to smile about, well a small smile in the least. Comparing February 2014 to February 2013 we see a -2.8% decrease in the median rental price, decreases remaining steady on this front, for now at least.

New NYC Rental Buildings Leasing Spring 2014

281 Union Avenue

Warm weather isn’t the only thing we’re looking forward to this spring. During this upcoming season, 13 new rental developments will be hitting the market, bringing nearly 1500 new apartments to New York City. In Manhattan, condo development continues to outpace the rentals, leasing just two buildings this spring. In Brooklyn, the opposite is true, as the borough has eight new rental buildings coming to the market. In Queens, the Long Island City rental scene continues to grow, where 800 new apartments will be leasing in spring 2014. For your convenience, here is a map of all the new rental buildings coming to the market over the next few months:

205 East 92nd Street: New Related Apartments for UES

205 East 92nd Street

Related Companies, the development firm responsible for luxury rental buildings like The Sierra, MiMA, and The Westport, just to name a few, is bringing even more apartments to Manhattan—this time in the Upper East Side. Located at 205 East 92nd Street, this new rental building will rise 36-stories and bring 230 apartments to the uptown neighborhood.

De Blasio Appoints New Guidelines Board: Will NYC's Next Freeze Be Rent?

New York City renters are hoping that Mayor de Blasio will follow through with his campaign promise of a renting freeze. The NYC Mayor will be appointing the nine members that make up the Rent Guidelines Board (RGB). This board decides how much regulated rents will increase per year.