The Real Deal New York

Ivanka Trump’s apartment gets another price chop

502 Park pad's asking rent was slashed by 30% since November
September 27, 2017 09:35AM

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