Extended-stay hotels take off in Manhattan

[NEW YORK] A fast-growing class of properties in New York is encouraging people not only to visit, but to stay awhile.

Known as extended-stay, corporate or short-term housing, these units have proliferated in recent years across Manhattan, both in buildings dedicated solely to this function and scattered inside existing rentals and condos.

A cross between hotel rooms and apartments, these furnished dwellings usually contain dishwashers and dining tables, like typical homes, but a tenant does not have to sign a full-year lease.