The Real Deal New York

Palace Hotel penthouses leasing for $250K apiece

Suites feature terrace with a hot tub, and a two-story crystal chandelier
May 02, 2014 08:30AM

A pair of three-bedroom penthouse condominiums at the New York Palace Hotel are renting for $250,000 per month.

The Jewel and Champagne suites at 455 Madison Avenue feature such amenities as a terrace with its own hot tub, a two-story crystal chandelier and a refrigerated champagne room. Brown Harris Stevens broker Margaret Bay is listing the apartments. Bay leased an entire floor of the building to a family of foreign buyers for $223,000 per month.

Some rooms at the Palace can be rented for $25,000 per night, as previously reported.

Similarly, a Plaza Hotel condo hit the market in 2012 for $125,000. An investor who was waiting for his mansion to finish its renovations rented it. [NYDN]Mark Maurer