Ivanka Trump’s apartment gets another price chop

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

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

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
Related CEO Jeff Blau and 455 Tenth Avenue (Chris Martin, Google Maps, iStock)
Related launches lodging for executives’ hybrid work
Related launches lodging for executives’ hybrid work
Matt Lauer with 26, 28 & 32 Actors Colony Rd (Getty, Susan Breitenbach)
Matt Lauer finds buyer for languishing Hamptons estate
Matt Lauer finds buyer for languishing Hamptons estate
Barbara Russo, Danielle Englebardt, and Oren and Tal Alexander (Getty, iStock BFA)
Ranking the top residential brokers on the Upper East Side
Ranking the top residential brokers on the Upper East Side
From left: PropTech's Thomas Hennessy and Joseph Beck; Appreciate's Chris Laurence (Appreciate, LinkedIn/Tom Hennessy, LinkedIn/Joseph Beck, iStock)
Single-family rental platform Appreciate to go public in SPAC deal
Single-family rental platform Appreciate to go public in SPAC deal
From left: Douglas Elliman's Scott Durkin, Stephen Kotler and Avi Dan-Goor (Douglas Elliman, iStock)
Douglas Elliman bets on Vegas in westward expansion
Douglas Elliman bets on Vegas in westward expansion
Gary LaBarbera, James Whelan, Eric Adams, Tiffany Cabán and Kathy Hochul (Getty, iStock / illustration by Ilya Hourie for The Real Deal)
Council backs off sabotage of 421a
Council backs off sabotage of 421a
366 State Street and 37 Sidney Place in Brooklyn (Corcoran, Zillow)
Passive house asking $15M tops Brooklyn contracts
Passive house asking $15M tops Brooklyn contracts
President Joe Biden (Getty, iStock)
Biden unveils his answer to high home prices
Biden unveils his answer to high home prices
arrow_forward_ios

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

Loading...