What room and board looks like on Billionaires’ Row

Four luxury towers offer free rent to their resident managers

New York /
Jul.July 23, 2015 03:10 PM

There’s no such thing as a free lunch. But is there such a thing as a free $6 million apartment in Manhattan?

Apparently there is, for the resident managers of four luxury condominium towers on Billionaires’ Row.

The managers of Vornado’s 220 Central Park South, Extell Development’s One57, CIM Group’s 432 Park and the MoMA tower at 53 West 53rd Street will be able to live rent-free in units in those buildings, according to DNAinfo. JDS Development is not offering an apartment to its resident manager at 111 West 57th Street.

At 220 Central Park South, the manager will occupy a 1,340-square-foot, $5.3 million, two-bedroom apartment. The manager will make an annual $261,538.

At Nearby 157 West 57th Street, the manager will live in the 34th-floor unit, which costs $6 million, and make $125,000 per year plus benefits.

CIM’s 432 Park offers its manager a nearly $4 million pad, a parking spot and an annual salary of $125,000.

Lastly, a vacancy: the Jean Nouvel-designed MoMA tower’s resident manager will have a $5.1 million three-bedroom condo to live in as well as a salary of $225,000 plus union benefits. [DNAinfo] — Claire Moses


Related Articles

arrow_forward_ios
Vornado's Steve Roth and 220 Central Park South (Credit: Getty Images, iStock)
Free and clear: Vornado pays off debt at 220 CPS
Free and clear: Vornado pays off debt at 220 CPS
At record-breaking 220 Central Park South, a unit just closed at $6,400 a foot
At record-breaking 220 Central Park South, a unit just closed at $6,400 a foot
At record-breaking 220 Central Park South, a unit just closed at $6,400 a foot
Against all odds: A by-the-numbers look inside Vornado’s 220 Central Park South
Against all odds: A by-the-numbers look inside Vornado’s 220 Central Park South
Against all odds: A by-the-numbers look inside Vornado’s 220 Central Park South
427 Broadway and Robert Frey (HGetty, THCNYC)
Former Vegas club owner bringing cannabis museum to SoHo
Former Vegas club owner bringing cannabis museum to SoHo
Edmonton Oilers' Daryl Katz with 220 Central Park South
Oilers owner buys $36M pad at Vornado’s 220 CPS
Oilers owner buys $36M pad at Vornado’s 220 CPS
From left: Fawaz Al Hokair; Tal and Oren Alexander; and 432 Park Avenue (International Institute for Iranian Studies, Getty Images, Trulia, iStock)
Saudi retail magnate relists 432 Park Avenue penthouse
Saudi retail magnate relists 432 Park Avenue penthouse
From left: Yossi Benchetrit and Gaëlle Pereira Benchetrit in front of 432 Park Avenue (Altice USA, Facebook/Gaëlle Pereira Benchetrit, 432 Park Avenue, iStock)
432 Park Avenue condo in $70M contract for in-house buyers
432 Park Avenue condo in $70M contract for in-house buyers
432 Park Avenue and Harry Macklowe
Condo in contract at 432 Park Avenue for $70M
Condo in contract at 432 Park Avenue for $70M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...