Centrally located in midtown Manhattan, running from East 23rd to East 34th streets between Park Ave and the East River, Kips Bay offers its renters a convenient location mixed with great value. The community has a quieter, more residential vibe than most of the rest of midtown. It is also within walking distance of many of the New York City’s prime shopping and nightlife districts, including Union Square, Flatiron, and Greenwich Village. The neighborhood is also well known for its casual bar, lounge, and entertainment scene. This, combined with the fact that the Kips Bay has more affordable apartments for rent than surrounding neighborhoods has made Kips Bay popular with many young professionals, students, and recent college grads. The combination of a central location and great value the neighborhood offers is hard to beat. Rental apartment inventory in the area is excellent, offering a mix of larger developments with no-fee, luxury apartments, and older walk-up buildings with relatively cheap apartments for rent. One of the most popular rental properties in Kips Bay is Windsor Court, which is located at 151 East 31st Street. Another major complex that deserves special attention is Waterside Plaza. This complex consists of residential towers and a school building.

When this building was constructed, builders also wanted to add above water apartments, a hotel as well as offices to the complex. However, finally, they made a decision not to do this due to environmental concerns.