New York City Luxury Rental Blog

View From The Balcony, or Are Balconies Still A Perk On Manhattan Rental Apartments?

By all accounts, the sad and scary death of a Murray Hill renter last month after he fell from a not-up-to-code balcony was both a fluke accident and the product of some serious oversight on the part of the building manager. It's not the sort of thing anyone likes to think about, this sort of thing, and for obvious reasons. But if you go through the rental apartment listings at Luxury Rentals Manhattan, you're going to notice that balconies are something we talk about a lot. We do this because, as Manhattan apartment perks go, balconies are pretty cool and pretty in-demand. A perch above it all, a bit of private space, an opportunity to grab some fresh air -- these are things that NYC dwellers want in a Manhattan rental apartment, and they are things that NYC dwellers will continue to want in a Manhattan rental apartment. We're not in the prediction business here at the Luxury Rentals Manhattan blog, but that seems like a fairly easy prediction to make. That said/fearlessly predicted, as New York Magazine's S. Jhoanna Robledo reports, more and more people are getting antsy about what was once a pretty sweet Manhattan apartment perk.

The Last Concession? Post Reports Concessions In Decline At New York City Rentals

We've been writing about the renter's market in Manhattan rentals here at Luxury Rentals Manhattan for months now, but much of what we've been writing about the renter's market has been about its imminent end. Is it here yet? How about now? Maybe while we were at lunch? The answer to those (incessant) questions remains more or less the same: the market for rental apartments in Manhattan is still tilted towards renters, but it appears to be in the midst of a return to the mean. Which in turn means, as the New York Post reports today, that it's increasingly tough for NYC dwellers to get the sort of concessions on Manhattan rentals that they routinely received during the heyday of the renter's market. Using Clinton luxury rental success story 505 West 37th as a test case, the Post's Katherine Dykstra reports that while concessions are down, the market is not totally back to its boom-era levels.

Upper West Side Table-Turn: New York Times "Hunt" Author Becomes Hunted, Reveals Upper West Side Rental Apartment

Manhattan real estate heads already know that Joyce Cohen's "The Hunt" column in the New York Times is one of the more enjoyable Manhattan real estate reads out there. But as entertaining as it is to read Cohen's interviews with people seeking (and finding) rental apartments in Manhattan, there's always the matter of authorial distance. That is -- and we're not going to get too lit-crit on you, both because it's been a long time since college and because this is the blog on a website about luxury rental apartments in Manhattan -- the question of where and how Cohen herself lives. Does it color her perspective? Bias her discussion of neighborhoods? Are her ceilings higher than yours?

Renting: Still the Rock Star's Choice

If the classic rent-versus-buy debate in Manhattan real estate were a building, instead of a debate, it would be pre-war. But as old as that debate is -- and as academic as it is rendered by the high price of a Manhattan condo and the comparatively advantageous market for Manhattan luxury rentals -- it's worth remembering that renting in Manhattan isn't just for those who can't afford to buy in Manhattan. Let's take Kings of Leon singer Caleb Followill, for instance.

Tear Down That Wall? The Quest To Open Gramercy Park To NYC Dwellers Continues

There are a great many reasons to look for a luxury rental in Gramercy Park -- greater Gramercy is a beautiful neighborhood with plenty of nice restaurants, some charmingly low-key nightspots and several really nice rental apartment listings. But as much as we at Luxury Rentals Manhattan love us some Lex Lofts or Park 23, there's one thing that a rental apartment in Gramercy will never boast: access to the actual Gramercy Park. Keys to Gramercy Park are among the most elusive prizes in Manhattan real estate, and even people who own their apartments on Gramercy Park are denied keys. If you don't own one of the 39 town houses surrounding Gramercy Park, the best you can hope for is to look through the high, wrought-iron fence surrounding Gramercy Park's eponymous green space. But will it always be thus?

How Glenwood Does It: The Real Deal Sits Down With One of Manhattan's Premier Luxury Rental Building Developers

Earlier this week, we wrote about Manhattan mega-developer Glenwood's planned sequel to Emerald Green, the green luxury rental building in the resurgent Garment District that has been (yet another) breakout success for the luxury rental developers. Glenwood is behind a number of the most popular rental listings at Luxury Rentals Manhattan, and the company's carefully planned luxury rentals -- usually done in collaboration with architect Costas Kondylis, but always striking well-amenitized and intelligently done -- have an appeal that's easy to see. In The Real Deal, Adam Piore profiles Glenwood head honcho Leonard Litwin, and writes about the company's striking success during the ongoing (if improving) downturn in NYC real estate.

Heard the One About the Rent-Stabilized Luxury Rental Building in the Financial District? No, Seriously.

The meticulous renovation of the pre-war luxury rental building at 37 Wall Street in the Financial District speaks to the care with which architect Costas Kondylis turned famed architect Francis Kimball's original Beaux-Arts structure into one of the more desirable rental listings in the Financial District. It's a luxury rental through-and-through, but 37 Wall Street is also something else -- a test-case in a lawsuit that's looking to extend rent-stabilization to all buildings, luxury rental buildings in the Financial District notwithstanding, that were constructed with the benefit of New York's 421g tax breaks. The renovation of 37 Wall Street benefitted from those tax breaks in funding its overhaul into luxury rental apartments, and the New York Times reports that a December housing court decision could pass those benefits on to the residents at 37 Wall Street through eviction protections and, maybe, rent reductions. Suffice to say that the developers behind 37 Wall Street are not pleased.

Emerald Green Offshoots: Developers Behind Garment District Green Rental Emerald Green Planning 39th Street Spin-Off

There's no sense in trying to hide it: we at Luxury Rentals Manhattan love the Garment District's Emerald Green. The LEED-certified green rental building is not only one of the more intriguing new green rental listings in Manhattan, but Emerald Green's location -- 320 West 38th Street, if you're curious -- in a neighborhood otherwise fairly short on luxury rental listings (green or otherwise) makes it an especially intriguing development. More intriguing is the news that Glenwood, the heavy-hitter Manhattan real estate developers behind Emerald Green, are planning an Emerald Green sequel in the same neighborhood, at 330 West 39th Street. Even if Emerald Green weren't such a favorite of ours here at Luxury Rentals Manhattan, this would be an interesting development.

Verdesian, Solaire Developer Sheds Some Light on Green Rental Apartments (Among Other Things) in New York Times

When Christopher Albanese speaks, the Luxury Rentals Manhattan blog listens. This is because Albanese's real estate development company, The Albanese Organization, has developed some truly extraordinary green rental buildings in Battery Park City: the Solaire and Verdesian. Two of the greenest green apartment listings in Manhattan, the Solaire and Verdesian were trend-setters in the burgeoning market for green rental apartments in Manhattan, and happen to be pretty beautiful buildings beside. Given your blogger's admitted soft spot for green apartment buildings, the Solaire and Verdesian are sentimental favorites of a sort, but the apartments for rent at the Solaire and Verdesian are also among the most popular rental listings here at Luxury Rentals Manhattan, so the favoritism isn't entirely sentiment-driven.