Ivanka Trump’s apartment gets another price chop

502 Park pad's asking rent was slashed by 30% since November

TRD New York /
Sep.September 27, 2017 09:35 AM

502 Park Avenue and Ivanka Trump (Credit: Getty Images)

Does nobody want to be Ivanka Trump’s tenant?

The president’s daughter and White House adviser has slashed the asking rent at her 502 Park Avenue pad by 30 percent since November, the month of the election.

The two-bedroom, 1,549-square-foot pad was on StreetEasy for $10,450 per month Tuesday, Bloomberg reported, down from $13,000 in February and $15,000 in November. Trump bought the unit for $1.5 million in 2004 and transferred it to an LLC in 2015.

The price cuts come amid a general malaise in the high-end rental market. New construction led to a surge in pricey rentals over the past year. Appraisal firm Miller Samuel counted 7,497 Manhattan rental units on the market at the end of August, 31 percent above the 10-year monthly average.

The median luxury rent was $8,000 last month, according to Miller Samuel. [Bloomberg]Konrad Putzier 


Related Articles

arrow_forward_ios
New York’s real estate market is becoming two different stories: Manhattan, where deals are falling — and the suburbs, where demand is spiking. (iStock, Unsplash)

Manhattan is cold, the suburbs and Brooklyn are hot: Here’s what the resi market looked like in July

Manhattan is cold, the suburbs and Brooklyn are hot: Here’s what the resi market looked like in July
Home sale price declines are expected for July, after a recent bump, according to a CoreLogic report. (iStock)

Home sale prices got a bump, but a drop is coming: Report

Home sale prices got a bump, but a drop is coming: Report
(Images courtesy of Victor Group)

The Getty condo chops prices up to 53%

The Getty condo chops prices up to 53%
442 Union Street and 257 Berry Street (Google Maps)

Brooklyn’s luxury market reaches new pandemic high

Brooklyn’s luxury market reaches new pandemic high
Marwan Kheireddine (inset), Jennifer Lawrence and 400 East 67th Street (Getty, Compass, BDL Accelerate)

Jennifer Lawrence’s Upper East Side PH sold at 37% loss

Jennifer Lawrence’s Upper East Side PH sold at 37% loss
Senate Minority Leader Chuck Schumer and Senate Majority Leader Mitch McConnell (Schumer by Tasos Katopodis/Getty Images; McConnell by Ting Shen/Xinhua via Getty)

Schumer v. McConnell on SALT: Who’s gonna give?

Schumer v. McConnell on SALT: Who’s gonna give?
111 Leroy Street and 817 Fifth Avenue (StreetEasy, Google Maps)

Luxury deals plummet in Manhattan — again

Luxury deals plummet in Manhattan — again
From left: Jared Kushner, 715 Park Avenue, Deutsche Bank CEO Christian Sewing, and Rosemary Vrablic (Credits: Kushner by BRENDAN SMIALOWSKI/AFP via Getty Images; 715 Park via Google Maps; Sewing by by Thomas Lohnes/Getty Images; Vrablic by PAUL LAURIE/Patrick McMullan via Getty Images)

Apartment sale to banker for Trump and Kushner probed

Apartment sale to banker for Trump and Kushner probed
arrow_forward_ios

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

Loading...