New York City Luxury Rental Blog

New Apartment Buildings Coming to Brooklyn

New Brooklyn Apartments

The latest report told us what we expected: the median rent in Brooklyn continues to increase month-by-month. But rent isn’t the only thing rising in Brooklyn. Here are some new rental buildings coming to Brooklyn.

Tags:

September Rental Report: Manhattan Slows; Brooklyn Grows

Brooklyn Bridge to Manhattan at Sunset

The latest report is in, and according to Elliman, the median manhattan rental price finally decreased for the first time since June 2011. The median rent for an apartment in Manhattan slipped 3.1% from the same month last year, down to $3,095 per month in September. The numbers weren’t straight across the board, however. In year-over-year numbers, there was a slight price decline in studio and one-bedroom apartments, while there was an increase in price for two- and three-bedroom apartments.

Tags:

Bill de Blasio's Plan for Mandatory Affordable Apartments

De Blasio and Bloomberg

Mayoral candidate Bill de Blasio received a shoutout on Monday from the Bloomberg Administration’s chief of city planning, the Daily News reports. De Blasio supports a plan that would require all new development to have affordable units, which was a topic of converasation.

Tags:

Copper-clad Luxury Apartment Building Bringing 800 Rentals to Midtown East

626 First Avenue Rendering by SHoP

Rendering by SHoP Architects 

On First Avenue between 35th and 36th Streets, sat 9.2 acres of undeveloped, muddy land for several years. The owner of the former ConEd site, developer Sheldon Solow, had planned on building two apartment towers. Last year, he sold the property for $172 million to JDS Development, who is following through with Solow’s plans. The Midtown East mud pit is in the process of transforming into two SHoP Architects-designed luxury rental towers, one at 40 stories and the other at 49 stories, housing a combined 800 luxury apartments for rent.

Tags:

Apartment Rental Website Airbnb Wins Appeal

Airbnb, the San Francisco-based bed and breakfast startup, has successfully helped to win an appeal for one of its users whose landlord was fined $2,400 for renting out his apartment for three nights. The East Village tenant, Nigel Warren, fought the ruling with his landlord, Abe Carrey, and Airbnb, with the primary argument being that renting a room does not violate the law, as long as a resident under the lease is present during the guest’s stay.

Tags:

Essex Crossing: the Future of the Lower East Side’s SPURA

Essex Crossing LES

The largest section of undeveloped, city-owned land south of 96th street is finally set for development, nearly 50 years after the area was originally razed for an urban renewal project. The Bloomberg administration has chosen the developers for the six-acre site known as the Seward Park Urban Renewal Area (SPURA) in the Lower East Side.

Tags:

Smoked Out: City-funded NPO Pushing for Smoking Bans in NYC Rentals

No Smoking in NYC Apartments

New York City has been not so quietly waging a war (quite successfully) against smoking. Mayor Bloomberg banned smoking in bars and restaurants during his first term, and since then, others, including real estate management companies, have decided to establish their own bans on smoking. Now, a nonprofit is reaching out to landlords and tenants, encouraging them to ban smoking in their rental buildings.

Tags:

Three's Company: Inheriting the Trump Organization

View From Trump World Tower

Donald Trump has reportedly chosen an heir to throne of his real estate empire. However, inheriting the Trump Organization will not be one of his children, but three of them. Trump told the Wall Street Journal that his sons Donald Jr. and Eric, along with daughter Ivanka, will all take over various aspects of the famous organization.

Tags:

August Manhattan Rental Report: Month 26 of Increases

Manhattan Skyline from Brooklyn

If you’ve been putting off renting an apartment in Manhattan because of increasing rents, don’t hold your breath. The latest report by Elliman shows that Manhattan rents have now increased for 26 straight months. Yes, rents have been increasing on a monthly basis since the summer of 2011. The good news for renters is that the median rent last month only rose by 1.8 percent from August last year. The bad news is that there’s no reason to assume that rents won’t continue to rise.

Tags:

New York City Luxury Rental Market: Summer 2013 In Perspective

Summer 2013 NYC

So, you’re back from vacation, and you want to know what news you missed out on during the summer months. Before we look ahead to the upcoming fall season, let’s take one look back on some of the biggest news to hit the New York City luxury rental market in the summer of 2013.

Tags: