If there was ever a time to rent an apartment in a Manhattan new luxury development, it’s now. The city’s high vacancy rate and low demand for rentals has led many of these developments—which already had a large inventory pre-Covid—to up the ante on lavish concessions and lower rent to fill their apartments.
Right now, you can find concessions like up to three months free rent, waived fees, complimentary wifi, and even gift cards worth thousands of dollars. These developments also offer luxe amenities, like full-time staff, concierge services, multiple outdoor spaces, gyms, bike rooms, and children’s playrooms. Of course, most shared amenity spaces are closed right now due to Covid, but buildings are figuring out how to reopen those spaces safely.
Just pay close attention to the rent that’s being advertised. Most of these listings advertise the net rent, which deducts any months free from the monthly rent, but it’s not actually what you’ll pay. To find that out, you can use Brick Underground’s gross-rent calculator.
Find Your Next Home
So, if you want to take advantage of the market right now and move into a new luxury development, here are five one-bedroom apartments in Flatiron, Fulton/Seaport, Lincoln Square, Murray Hill, and Hell’s Kitchen.
7 West 21st St., #1903, Flatiron
This one bedroom is asking $6,440 with two months free on a 14-month lease. Apartment #1903 features oak floors, floor-to-ceiling windows, an in-unit Bosch washer/dryer, stainless steel appliances, and storage closets. Amenities include rooftop terraces with TVs and grills, a children’s playroom, fitness center, game room, and 24-hour concierge. Madison Square Park and Eataly are nearby.
19 Dutch St., #PH4, Fulton/Seaport
This one bedroom is asking $6,250, with three months free on a 12-month lease. The apartment has hardwood floors, floor-to-ceiling windows, high ceilings, stainless steel appliances, a breakfast bar, and an in-unit washer/dryer. Amenities include concierge, a bike room, gym, children’s playroom, package room, and virtual doorman. City Hall Park and Seaport District are nearby.
645 West 59th St., #505, Lincoln Square
This one bedroom is asking $5,492, with three months free on a 12-month lease. The apartment has keyless entry, hardwood floors, floor-to-ceilings windows with views of the Hudson River, and an in-unit washer/dryer. The kitchen has Bosch stainless steel appliances, a wine fridge, waterfall island, and waste disposal. Located in Waterline Square, amenities include a new three-acre park, a pool, fitness center, rock climbing wall, playroom, bowling alley, valet parking, and a live-in super. Lincoln Center and Pier 91 at Hudson River Park are nearby.
225 East 39th St., #9E, Murray Hill
This one bedroom is asking $5,380, with two months free on a 14-month lease. Apartment #9E has hardwood floors, floor-to-ceiling windows in every room, stainless steel appliances, a breakfast bar, and an in-unit Bosch washer/dryer. Located in House39, amenities include 24-hour concierge, a rooftop pool, fitness center, yoga room, and several outdoor areas. St. Vartan Park and The Morgan Library & Museum are nearby.
450 West 42nd St., #19M, Hell’s Kitchen
This one bedroom is asking $3,995, after a recent 15 percent drop. The corner apartment has a foyer, hardwood floors, floor-to-ceiling windows, a separate dining room that can be used as a home office, stainless steel appliances, an in-unit washer/dryer, and large closets. Located in MiMA, amenities include an Equinox fitness center, an indoor basketball court, outdoor and indoor screening rooms, concierge, and a bike room. Javits Center and Port Authority are nearby.
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