Rental buildings add $20,000-plus per month listings

TRD New York /
Jul.July 27, 2012 09:00 AM

Three-quarters of Manhattan residents are renters, but only the smallest fraction of them pay more than $30,000 per month. Those renters are usually staying in townhouses or condominium penthouses, and are often there on a short-term basis, waiting out renovations to their homes, delaying the buying process, or looking for a luxury stop amid a road-warrior lifestyle, according to the New York Times.

But for the first time, Manhattan’s rental buildings are also offering super-expensive apartments to lure wealthy people who are determined renters. New York by Gehry, for example, at 8 Spruce Street, will list in September three penthouses on its 76th floor for $45,000 to $60,000 per month. The $60,000 per month north-facing penthouse is 3,800 square feet; the price represents $16 per square foot per month.

Developer Forest City Ratner said it would allow tenants some leeway with renovations to these units, and that it has already been asked for showings by celebrities and athletes.

Related’s One MiMA Tower is also after this sector, as three units on its 63rd floor are seeking between $20,000 and $25,000 per month. [NYT]


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