As of April 2, 2021, the number of Manhattan apartments publicly listed for rent came in at 9,951 listings. By our counts, this is the first time since June 2020 that the borough's inventory came in below 10,000 listings. Availability fell sharply last month with a 12% decline in inventory month-over-month. As a reaction, the borough's median rents continued to inch higher, rising from $3,001/month last Friday to $3,022/month today.
Even still, median rents are down 20% since the onset of the pandemic, and inventory is up 79% when compared to last April. However, with little new supply coming onto the market for the next several years, this spring may be one of the last opportunities to sign a lease for an apartment with deeply incentivized rents. Several companies have set dates for employees to return to the office either full or part-time. Proximity to the office is once again invaluable as many will seek to avoid long subway commutes and the forthcoming congestion charge that will affect those driving in.
As we expect rents to climb throughout core areas of the city, it is urgent for city and state policy-makers to incentivize the construction of housing in and near business districts to prevent housing crises of pre-pandemic levels. With market forces playing out so clearly over last year, it is crystal clear that high inventory and supply can substantially suppress rents.
Below, we take a look at a dozen steeply-discounted apartments available in some of the city's most favorable condo and cooperative buildings.
Even still, median rents are down 20% since the onset of the pandemic, and inventory is up 79% when compared to last April. However, with little new supply coming onto the market for the next several years, this spring may be one of the last opportunities to sign a lease for an apartment with deeply incentivized rents. Several companies have set dates for employees to return to the office either full or part-time. Proximity to the office is once again invaluable as many will seek to avoid long subway commutes and the forthcoming congestion charge that will affect those driving in.
As we expect rents to climb throughout core areas of the city, it is urgent for city and state policy-makers to incentivize the construction of housing in and near business districts to prevent housing crises of pre-pandemic levels. With market forces playing out so clearly over last year, it is crystal clear that high inventory and supply can substantially suppress rents.
Below, we take a look at a dozen steeply-discounted apartments available in some of the city's most favorable condo and cooperative buildings.
In this article:
The Rousseau, 221 West 82nd Street
Broadway Corridor
Louis Philippe Condo, 312 West 23rd Street
Chelsea
Cipriani Club Residences, 55 Wall Street
Financial District
The Residences at The Ritz-Carlton New York Battery Park, 10 Little West Street
Battery Park City
240 East 46th Street
Turtle Bay/United Nations
From the Listing: Bright, convertible two-bedroom in the heart of Murray Hill! Perfect for shares, as a wall has already been placed to create a second bedroom that can accommodate a queen-size bed and additional furniture. The spacious primary bedroom can accommodate a king-size bed with plenty of additional room for a desk area and other furniture. The living room has space for dining and is designed so light flows into the room. The kitchen has stainless steel appliances and features a dishwasher and granite countertops. This condo offers a 24-hour doorman, resident manager, laundry room, bike storage, and garage access (separate cost). No Dogs. See floor plan and full details here.
From the Listing: Extremely large one bedroom in Midtown East. This beautiful apartment has been tastefully renovated throughout and is a true one bedroom featuring large rooms, amazing closet/storage space, high ceilings, and great natural light. The kitchen has many great features which include cherry wood custom cabinets, high-end stainless steel appliances, and an oversized recessed sink. Additional features include new hardwood flooring throughout, under cabinet lighting, high-end granite countertops, and a beautiful breakfast bar. This is a full-service doorman building with a live-in superintendent and laundry facilities. The building is minutes away from Grand Central Station making this the perfect location. See floor plan and full details here.
From the Listing:
Full floor 2 bed/ 2 bath key elevator building with balcony and Washer/Dryer on-site in a unique boutique condo building located in the heart of Soho.
Step out of the elevator and you are directly in the foyer of this full-floor 2 bedrooms 2 bath gem.
Combining classic elegance with stylish and contemporary living. The spacious living room facing Thompson street has a roaring fireplace.
Through the breakfast bar, you can see the Kitchen, crafted with a chef in mind.
The 2 bedrooms and 2 bathrooms as well as the west-facing balcony area in the back of the building. See floor plan and full details here.
From the Listing: Located high above vibrant Bryant Park in the heart of New York City, this corner two-bedroom residence, designed by David Chipperfield Architects, wraps the northwest corner with fourteen floor-to-ceiling windows. At 1,391 square feet, this home offers an expansive split bedroom floor plan with an abundance of natural light and incomparable views over Bryant Park through custom sliding Vitrocsa glass doors with Juliet balconies. The custom marble terrazzo facade transitions seamlessly to the interiors, creating crisp architectural frames to the windows and a border for the heated oak herringbone floors. The bespoke millwork found throughout cleverly conceals storage, appliances, and mechanical systems, allowing continuous, full 9-foot 6-inch ceiling heights to carry throughout the residence. The open kitchen includes a Gaggenau cooktop with a fully-vented hood, oven, speed oven, dishwasher, and a Bosch refrigerator/freezer. See floor plan and full details here.
From the Listing: Are you searching for great views and a very spacious layout? You can have both with the flexible floorplan in this luxury condo rental property. Over 38' long and windowed on three sides, the massive great room faces West over the Hudson River, north over the Downtown skyline and the World Trade Center complex, and east over historic Battery Park, Governor's Island, and the New York Harbor. Enjoy the space as it, or divide it informally and still have a generous common living area while adding a flex space for work or sleep.
See floor plan and full details here.
From the Listing: Welcome to Tower 58 Apartment 5A! This beautiful fifth-floor residence comes FULLY FURNISHED. The apartment features an oversized living room area, separate dining alcove, pass-through kitchen with Sub-Zero refrigerator and Viking appliances, including a dishwasher, powder room, a king-size primary bedroom with a bath en-suite, hardwood floors throughout abundant closet space. The private balcony is very spacious for those perfect city views.
Tower 58 is a full-service luxury condominium offering 24-hour doorman & concierge service, beautifully renovated lobby, a circular driveway on West 58th Street, garage parking, in-building laundry, bike room, live-in super, and a roof deck with breathtaking panoramic skyline and Central Park views. It is located one block south of Central Park, in close proximity to Fifth Avenue shopping and dining, Columbus Circle, Time Warner Center, Lincoln Center, Carnegie Hall, and Whole Foods. Conveniently located near all major subway lines. See floor plan and full details here.
Tower 58 is a full-service luxury condominium offering 24-hour doorman & concierge service, beautifully renovated lobby, a circular driveway on West 58th Street, garage parking, in-building laundry, bike room, live-in super, and a roof deck with breathtaking panoramic skyline and Central Park views. It is located one block south of Central Park, in close proximity to Fifth Avenue shopping and dining, Columbus Circle, Time Warner Center, Lincoln Center, Carnegie Hall, and Whole Foods. Conveniently located near all major subway lines. See floor plan and full details here.
From the Listing: This spacious one-bedroom home features a kitchen and living room with six windows and four closets. In the kitchen, you'll find stainless steel appliances, abundant counter space, and a service entrance. The bath is recently updated and windowed. Amenities include a newly equipped laundry room, bike room, live-in super, and doorman. See floor plan and full details here.
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From the Listing:
1807 is an impeccable and elegantly furnished exceptionally large one bedroom, one and a half bath condominium home at the Plaza Private Residences. Located on a high floor there are picturesque and sweeping views of Central Park.
The rooms of 1807 at 1 Central Park South are grand in proportion offering a large living area with room for dining and a generously sized bedroom with an en-suite bath. The primary bath and the powder room feature a custom marble mosaic patterned floor derived from the historic Plaza lobbies with fixtures and fittings exclusively crafted by Lefroy Brooks and Kohler. The custom gourmet kitchen has appliances by Viking and Miele with Nero Marquina stone countertops and a white mosaic Calacatta marble tile backsplash. The Plaza features a land-marked private residential lobby with full white-glove hotel services and amenities. These include 24-hour doorman, five-star concierge services, The Oak Room and Bar, The Palm Court, The Grand Ballroom, The Champagne Bar and Rose Club, The Plaza Food Hall by Todd English, The La Palestra beauty, spa and fitness center, the Warren Tricomi hair salon, private conference rooms, valet parking, maid service, and room service. 1807 at 1 Central Park South offers everything and anything for the discerning renter. See floor plan and full details here.
The rooms of 1807 at 1 Central Park South are grand in proportion offering a large living area with room for dining and a generously sized bedroom with an en-suite bath. The primary bath and the powder room feature a custom marble mosaic patterned floor derived from the historic Plaza lobbies with fixtures and fittings exclusively crafted by Lefroy Brooks and Kohler. The custom gourmet kitchen has appliances by Viking and Miele with Nero Marquina stone countertops and a white mosaic Calacatta marble tile backsplash. The Plaza features a land-marked private residential lobby with full white-glove hotel services and amenities. These include 24-hour doorman, five-star concierge services, The Oak Room and Bar, The Palm Court, The Grand Ballroom, The Champagne Bar and Rose Club, The Plaza Food Hall by Todd English, The La Palestra beauty, spa and fitness center, the Warren Tricomi hair salon, private conference rooms, valet parking, maid service, and room service. 1807 at 1 Central Park South offers everything and anything for the discerning renter. See floor plan and full details here.
From the Listing:
The layout out of the open kitchen gives every chef a great culinary experience. It has been tastefully integrated with white lacquer cabinetry designed by graft, Corian countertops with glass backsplash ad concealed lighting. This stunning one-bedroom has dynamic views of the majestic Hudson River and Empire State Building. The residence has the most desired south, west, and northern exposures with views of the Statue of Liberty, the universal symbol of freedom; one can also catch the breaking sunrise and sunset from your home. You will find the finest appliances with a Miele gas cooktop, convection/microwave oven, and an integrated subzero refrigerator. See floor plan and full details here.
From the Listing: The 230 Riverside Condominium is the most desired prewar condo in the area, just a short walk to Riverside Park and the 1, 2, and 3 subway. The home has a windowed designer kitchen with Italian white lacquered cabinetry quartzite countertops, a Sub-Zero refrigerator, and a Miele gas oven and cooktop. The spa bath includes Calacatta marble, Watermark fixtures, radiant heated floors, and a soaking tub. White glove building with a classic lobby, lush private garden, gym, and 24-hour doorman/concierge. Sorry, no pets. See floor plan and full details here.
From the Listing: Be the first to live in this just completed, completely gut renovated 3 bedrooms plus Home Office/4th Bedroom, 3 baths, 1,850-square-foot pre-war masterpiece! 12G seamlessly combines modern luxury and convenience with elegant pre-war details. Enjoy a sprawling layout with a palatial living/dining area, 3 full bedrooms, a Home office/4th Bedroom, and 3 full designer baths. The brand new chef's kitchen features Thermador appliances including a 6 burner stove, custom cabinetry, a wine fridge, and a fully vented hood. Enjoy northern, eastern, and western exposures with partial river views and tremendous sunlight. This magnificent designer apartment is finished with wide plank wood floors, full apartment HVAC, a Bosch washer and dryer, high ceilings, decorative moldings, and expansive closet space (including multiple walk-ins).
See floor plan and full details here.
From the Listing: Renovated Chelsea condo studio. This pristine apartment is move-in-ready. Both the kitchen and bathroom have been recently and stylishly renovated. Exposed brick, hardwood floors, a built-in breakfast bar, and an Empire State Building view! Live-in super, storage and bike storage, laundry room, Transportation, shopping, restaurants, gyms, and nightlife are right outside your door. See floor plan and full details here.
From the Listing: Nestled on the southwest corner of the 18th floor, this spacious junior 4 looks out directly to the Empire State building, making it the perfect backdrop to entertain. NEW WINDOWS ARE CURRENTLY BEING INSTALLED to give you a crystal clear view. This sun-drenched home boasts an oversized living room and versatile dining area which could alternatively be used as a den. This dining alcove has a beautiful built-in wine bar and tons of custom wood and frosted glass cabinetry. Moving into the kitchen area, you'll find a continued flow of sleek wooden and frosted cabinets with accent lights and updated stainless steel appliances throughout. We now move into the entry foyer and hallways where you will find tons of storage amongst your 3 large closets. You have a tastefully updated bath (New shower head, valve handles, and faucet is being installed) and an enormous bright bedroom encompassing two large closets.
See floor plan and full details here.
From the Listing: Cozy and comfortable...this charming and homey one-bedroom will make you smile. Thoughtfully designed, an inviting entry hallway leads to the living room with huge solid windows, bringing in abundant southern light. The updated modern kitchen is open to the living room.
The bedroom has a huge walk-in closet, large windows, as well as a beautiful and sleek windowed bathroom. All of the window shades throughout are remote control operated.
Rented furnished, or unfurnished, with a tasteful contemporary decor, the owner has provided dishes and all the amenities to move right in and call this apartment home. A private storage room can be used by the renter. See floor plan and full details here.
The bedroom has a huge walk-in closet, large windows, as well as a beautiful and sleek windowed bathroom. All of the window shades throughout are remote control operated.
Rented furnished, or unfurnished, with a tasteful contemporary decor, the owner has provided dishes and all the amenities to move right in and call this apartment home. A private storage room can be used by the renter. See floor plan and full details here.
From the Listing: Introducing residence 2-BB at Central Park Place Condominium: a perfect studio in the ideal location. This south-facing bright smartly furnished studio, with a giant picture window, makes for a perfect full-time residence or pied--terre. Every inch of space is well utilized, and smartly laid out, leaving ample room for living, sleeping, and storage. Sorry, no pets with the exception of an ESA prescription. See floor plan and full details here.
From the Listing: Live lavishly in this corner one-bedroom penthouse located at the Cipriani Club Residences at 55 Wall Street. This luxurious unit is bright, spacious, and comes with an unparalleled set of amenities. A classic Beaux-Arts masterpiece built in 1842, the building was designed by Isaiah Rogers and doubled in size by renowned architects McKim, Mead & White. White-glove amenities abound, including a 24-hour doorman, lobby attendant, and concierge as well as a fitness center, business center, valet parking, landscaped courtyard, and rooftop garden with striking city views. See floor plan and full details here.
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?
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