Residents of New York City are changing their mindset about the rental industry. “Major U.S. cities are seeing a boost in the number of renters in comparison to homeowners”. There has been increasing demand for rental apartments suggesting that buying may not always be the best option. Mortgage rates are at a historic low, and yet many do not have funds which provides allure for renting.

Rendering courtesy of Monian Group Huge news for Midtown West—literally. Another rental project will be rising in the neighborhood, and this one is enormous. Developed by Monian, the long-stalled residential project at 605 West 42nd Street is making strides towards completion.