New York City Apartment Search

Before You Start | Setting up your Search | Your Rental Profile | Your Search | After The Search | Renting vs. Buying

Before You Start

• The Big City: A Renter's Guide
• The Squeeze
• Leases and Subleases
• Building Features and Amenities
• Individual Apartment Features

Comparing Manhattan to any other city is like comparing apples (the Big Apple, to be exact) and oranges. Manhattan shopping, sports, restaurants, parks, and everything in between, are bigger, busier, faster, more energetic, and more cosmopolitan. Put simply, everything in New York City is more.

Unfortunately, real estate is no exception.

As a Renter, you can expect the Manhattan real estate market to be more expensive, more competitive, and more demanding than most other markets in the world. The good news is, we at MLX have engineered some pretty good ways to you get the most out of your money and time.

Manhattan's vacancy rate--that is, the average percentage of apartments that are vacant at any given time--is less than 2%. Approximately 35,000 rental apartments turn over each year. And how do people find their new homes? According to manager statistics, about 25% of apartments are rented through brokers. The typical broker's commission is 15% of the first year's rent. In Manhattan, the Renter, not the landlord, pays the commission

Most apartments in Manhattan are rented through primary leases, where the Renter is only party represented on the lease and the deal is made directly with the building owner.

The other common rental arrangement is the sublease, where the Renter deals with the apartment's individual owner, who for one reason or another chooses to rent the apartment rather than live in it. In most co-op or condo buildings, subleases require board approval.

Manhattan apartments range in quality from walkup tenements to luxury doorman high-rises. Every Renter has different priorities and preferences. How do you rate your potential new home rate according to this list of building-wide perks?

Health club, exercise room, pool. Some buildings require a nominal membership fee.

Common spaces, such as party rooms or playrooms; most common in newer buildings.

Full-time or part-time attendant. This can be a doorman, concierge, and/or elevator operator.

Video security is common in newer or recently enhanced buildings.

Laundry facilities are common in newer buildings. They are usually located in the basement or on the second floor, and sometimes on every floor. Laundry rooms range in quality.

Valet service. Some larger luxury buildings offer housekeeping services.

Garages are sometimes provided at a reduced rate for tenants, and most have long waiting lists.

Storage. A building's basement area might accommodate suitcases, furniture, bikes, etc. Buildings usually are not responsible for a tenant's belongings.

Pets. Some buildings allow all animals and some allow only cats and dogs, only cats, or no pets at all; individual circumstances can be addressed to landlords, but most policies are set.

Sundeck. Some buildings cultivate common rooftop spaces. Some even provide chairs and tables, chaise lounges, or barbecues.

When your evaluate your apartment's amenities, the building's general features and the apartment's individual features should be taken into account. Here are some common apartment perks:

Private terrace, balcony, patio, or garden. Patios and gardens are typically only available for ground-level apartments; balconies are usually only about four feet deep.

Duplex/triplex. Multi-level apartments are usually found at ground level or in penthouses.

Kitchen styles. Eat-in kitchens are generally found in larger apartments and accommodate a small table or breakfast nook; windowed kitchens encourage ventilation; pantry kitchens, found in older apartments, include built-in storage.

Bathroom styles. Marble bathrooms are common in newer buildings; Jacuzzis are found in luxury master bedrooms, and windowed bathrooms are considered a huge perk.

Washer/Dryer. Miniature versions are sometimes found in new or renovated buildings.

Fireplaces can be functional or decorative.

Views. A river or vista view can make all the difference.

Exposures. The direction an apartment faces affects how much light an apartment allows.

Loft. A loft is a non-partitioned space in older, warehouse-style apartments.

Utilities are sometimes included in the rent, which can change the price significantly.