A Quick-Reference Guide to Manhattan for New Renters

Manhattan is a big place. Many of its neighborhoods are larger than whole cities
in other parts of the country. For those new to the city, it can often seem
a daunting cityscape. This quick guide will provide a quick reference point
for you as start to figure out what part of the island you would like find a
New York apartment in.
Chelsea – A relatively expensive area to live, there are large numbers
of clubs that people from across the city flock to. There is also a strong GLBT
community here.
This is the toughest part of town to find an apartment. Vacancy rates were
just 0.53% during the third quarter of 2007.
East Village – Home to Alphabet City, once considered one of the rougher
parts of the city, the East Village today is populated by more and more twenty-somethings,
and boasts a solid nightlife filled with a good number of quintessentially New
York bars. NYU has a strong presence in this part of the city.
At 0.93%, vacancy rates are just slightly above Manhattan averages
Gramercy/Flatiron – Last year, Grammercy was home to the single largest
real estate deal ever, in terms of dollar value. In a move that is sure to change
the face of the area, the city sold a large public housing complex for many
billions of dollars. Outside of the public housing, this is the third most expensive
part of Manhattan to rent an apartment
in.
Harlem – Long one of the most notorious urban areas in the country, Harlem
today is experiencing a bit of a renaissance. The Clinton Foundation houses
its offices here, and a number of urban renewal projects are taking place here.

Rents remain relatively low. During the third quarter, it cost just $2,179
on average for a 3-bedroom apartment.
Upper West Side – Fans of Seinfeld will recognize much of this area.
Scenes from the show almost always took place in this part of New York.
Vacancy rates are 0.87%, which is just about the average for the island.
Upper East Side – One of the wealthiest parts of the city, it is considerably
easier to find a single or flat here than it is a three bedroom apartment.
Soho/Tribeca – The single most expensive part of the city to rent an
apartment in, the area boasts a number of warehouses converted into large flats.
It is home to the famous Tribeca Film Festival.
The vacancy rate is 0.93%; a single will cost you a hefty $3,555 on average.

Midtown – Just south of the park, midtown east and midtown west are home
to some of the most famous parts of the city. Madison Square Garden is here,
as is Penn Station.
Western Village – Perhaps the most European feeling part of the city,
the Western Village is home to a large number of British style pubs.
Apartments are expensive here: A single
costs an average of $3,082. A 3-bedroom is an average of $6,438.

Nicholas Adams Judge is a freelance writer specializing in business, politics and economics. He holds a B.A. in political science and will begin his PhD studies in political economy and public opinion next fall. He has studied economics and political science at a number of different institutions, both here and in the U.K., including Amherst College, Warwick University, Oxford University and the University of Massachusetts-Amherst.