Rupert Murdoch's penthouse and Baz Luhrmann's townhouse among Manhattan's most expensive rentals

At the height of the Covid pandemic and lockdown in early 2020, some feared a mass exodus of New York’s wealthiest, possibly to states with lower taxes. However, a recent report by the Fiscal Policy Institute, as reported in The New York Times, found that the opposite took place: Millionaires are coming back, and low- and middle-income New Yorkers are leaving. The report also found that the millionaires who did leave went to other high-tax states (think California, New Jersey, and Connecticut), while working-class New Yorkers who left said the high cost of living, not high taxes, drove them away.

And yet, for all that, a study from February 2023 found that millionaire renters in New York City are at an all-time high. A number of factors are at work here. While millionaires are thought to be immune to the pain of rising interest rates, home prices, too, have risen to a point where their dream homes might be unattainable. New York's new “mansion tax” went into effect in summer 2019; there was a rush of closings ahead of the July 1, 2019 deadline to avoid the tax, and it now comes on top of all the other fees that buyers of all stripes are responsible for.

Finally, there are lifestyle factors to consider. Some people crave the experience of being able to live in various cities, if not countries throughout their lives, and may not want the responsibility of homeownership, not even with a pied-a-terre. Moreover, a spate of luxurious new private clubs like Fasano Fifth Avenue on the Upper East Side and Maison Hudson in the West Village has sprung up, offering fully furnished units, luxurious amenities, white-glove service, and flexible terms allowing for stays as short as 30 days or as long as a year or so.

Below, we look at Manhattan's most expensive rental listings on the market as of December 11, 2023. Among them are the $75,000/month Gramercy townhouse of director Baz Luhrmann, which is also listed for sale for $17,995,000, and the Flatiron penthouse of media mogul Rupert Murdoch. Mr. Murdoch initially listed it along with a lower-floor staff/guest unit for a total of $78 million in March 2022; while the lower-floor unit sold for $12.5 million in October 2022, the penthouse has lingered on the market to a point where it was reduced by $20 million in May 2023 and was put on the rental market for $160,000/month.

#10 (tie). Fifteen Hudson Yards, #PH88A
$75,000

Midtown West | Condominium | 4 Bedrooms, 5.5 Baths | 5,211 ft²

Fifteen Hudson Yards, #PH88A (Compass)

From the Listing: Available for immediate move-in, Penthouse 88A is at once dramatic but also a warm, inviting home. Its centerpiece is a double-height living room with ceilings up to 26 feet high with a beautiful double-sided fireplace clad in angled Obsidian black slate. With interiors by renowned designer Joan Behnke & Associates, the penthouse is fully outfitted and featuring one-of-a-kind sculptural millwork, a custom Bulthaup kitchen, custom hardware, sculptural artwork, private internal elevator, and a package of speakers, window treatments and lighting throughout. See floor plan and full details here.

#10 (tie). 243 East 17th Street, #TH
$75,000

Gramercy Park | Townhouse | 6+ Bedrooms, 5.5 Baths | 8,500 ft²

243 East 17th Street, #TH (Corcoran Group)

From the Listing: Beckoning the bygone era of the Gilded Age in New York, this exceptional 28-foot-wide, elevator townhome sits perfectly positioned with a centerline view over Stuyvesant Square Park.This elegant townhouse has been featured in numerous design publications including Elle Decor and was one of Elle Decor's top "liked" Instagram posts of 2021. New energy-efficient boiler and HVAC systems in 2019, along with a new roof, roofing membrane, drainage, down piping, and exterior decking are just a few of the many upgrades made by the current owner. Oscars not included. See floor plan and full details here.

#9. 432 Park Avenue, #66B
$79,000

Midtown East | Condominium | 4 Bedrooms, 4.5 Baths | 4,019 ft²

432 Park Avenue, #66B (Douglas Elliman Real Estate)

From the Listing: Occupying the entire western half of the 66th floor, this 4,019 square foot residence at the iconic 432 Park Avenue encapsulates fully unobstructed views of Central Park and the Manhattan skyline through its grand array of colossal, triple-paned 10 10 windows and 12.5' ceilings. While clearing the GM building and all subsequent surrounding towers, 66B boasts eye level, panoramic Central Park views which are unmatched throughout the entirety of the building. See floor plan and full details here.

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#8 (tie). 109 Waverly Place, #TH
$80,000 (-20%)

Greenwich Village | Townhouse | 6+ Bedrooms, 6+ Baths | 8,300 ft²

109 Waverly Place, #TH (Compass)

From the Listing: Privacy and perfection abound in this contemporary, 25’ wide, Greek Revival townhouse. Located in the heart of Greenwich village, this 8,300-square-foot masterpiece boasts 6-8 bedrooms, a state-of-the-art elevator, indoor swimming pool, heated floors, skylit staircase and multiple outdoor spaces. Meticulously designed by renowned architect, Wayne Turett, 109 Waverly Place has graced the cover of INTERIOR DESIGN magazine and has been featured in multiple publications. See floor plan and full details here.

#8 (tie). 6 East 69th Street, #THOUSE
$80,000

Park/Fifth Ave. to 79th St. | Townhouse | 6+ Bedrooms, 5 Baths | 12,000 ft²

6 East 69th Street, #THOUSE (Nest Seekers LLC)

From the Listing: This magnificent neo-Federal mansion sprawls over approximately 12,000 square feet across six levels, including the lower level. It boasts seven bedrooms, five full bathrooms, and two powder rooms. Beyond its refined Flemish-bond brick and limestone exterior, this home is bathed in natural light, features lofty ceilings, and boasts generously sized rooms. See floor plan and full details here.

#7. 101 Warren Street, #3210
$85,000

Tribeca | Condominium | 6+ Bedrooms, 6+ Baths | 6,373 ft²

101 Warren Street, #3210 (Compass)

From the Listing: At the pinnacle of the building, you'll find Apartment 3210, the largest single-family residence in the building. 3210 is a combination unit of two spectacular penthouses, seamlessly merged into one magnificent residence, encompassing half of the 32nd and 33rd floors. Spanning a vast 6,373 square feet of interior space, this trophy residence boasts seven bedrooms, six full bathrooms, and two powder rooms, each meticulously designed with no expense spared. The apartment's crown jewel is its unparalleled 2,586 square feet of wrapped loggia terraces. See floor plan and full details here.

#6. 988 Fifth Avenue, #PENTHOUSE
$100,000

Carnegie Hill | Condominium | 3 Bedrooms, 3.5 Baths | 5,500 ft²

988 Fifth Avenue, #PENTHOUSE (Corcoran Group)

From the Listing: This stunning duplex penthouse has two enormous landscaped terraces, and sits atop a small, private, and highly coveted, white glove, Pre-war condominium. Each room of this impeccably furnished and sun-flooded 3-bedroom, 3.5-bathroom apartment has floor-to-ceiling windows affording breathtaking views of Central Park and the New York City skyline. This is sumptuous living with international flair right in the epicenter of New York City's prized Upper East Side. See floor plan and full details here.

#5. Maison Hudson, #6
$105,500

West Village | Rental | 3 Bedrooms, 4 Baths | 2,205 ft²

Maison Hudson, #6 (Douglas Elliman Real Estate)

From the Listing: This full-floor residence offers a grand three-bedroom, four-bathroom layout, with 2,205 square feet of thoughtfully designed living space with sweeping views of the Hudson River. Designed by Thomas Juul-Hansen, Residence 6 features exquisite furnishings by Giorgetti, hand-laid oak and walnut floors, and custom Alabaster light fixtures. With its open concept design and oversized 8-foot picture windows, this light-filled residence offers generous living and entertaining areas and a dining area that can comfortably seat eight guests. See floor plan and full details here.

#4. 56 Leonard Street, #PH56
$123,000

Tribeca | Condominium | 6+ Bedrooms, 4.5 Baths | 6,000 ft²

56 Leonard Street, #PH56 (Douglas Elliman Real Estate)

From the Listing: Extremely rare and unmatched luxury full floor penthouse on the 56th floor with soaring 14-foot ceilings, two outdoor terraces and wood burning fireplace. PH56 has one of the largest living rooms in Manhattan, which features unobstructed views of the entire city and bridges. Add a luxury tier package which can include full/part-time driver, housekeeping, chef, and choices of art to rent and other lifestyle amenities can be available at extra cost at your request. See floor plan and full details here.

#3. Fasano Fifth Avenue, #RESIDENCE
$140,000

Park/Fifth Ave. to 79th St. | Condominium | 3 Bedrooms, 3.5 Baths | 3,600 ft²

Fasano Fifth Avenue, #RESIDENCE (Douglas Elliman Real Estate)

From the Listing: Fasano Fifth Avenue is a private club offering residences and clubhouse suites to members and a handful of local and international partners. The club features an intimate and private dining and cocktail bar personally conceptualized by Rogerio Fasano and designed by Thierry W. Despont. All residences offer sweeping Central Park and Manhattan skyline views. Residences are designed and delivered fully furnished by Thierry W. Despont, and are available for both long and short-term stays starting at 30 days. See floor plan and full details here.

#2. 100 Vandam Street, #PENTHOUSE
$150,000

SoHo | Condominium | 6+ Bedrooms, 6+ Baths | 8,600 ft²

100 Vandam Street, #PENTHOUSE (Nest Seekers LLC)

From the Listing: Upon entering, you will immediately understand that The Penthouse is unworldly, entirely jaw dropping, and within the first step, will take your breath away. Keyed-elevator opens into each floor, three, offering unreal views of every architectural masterpiece from every vantage point and from every room within the Residence. The Penthouse spans an impressive and grand 8,600 square feet along three floors with nearly 1,500 square feet of private outdoor space. See floor plan and full details here.

#1. One Madison, #PH
$160,000

Flatiron/Union Square | Condominium | 5 Bedrooms, 5.5 Baths | 6,850 ft²

One Madison, #PH (Corcoran Group)

From the Listing: Crowning One Madison from the 58th to the 60th floors, the triplex penthouse boasts nearly 7,000 square feet of open interior space with dramatic full-height windows that offer breathtaking 360-degree skyline and river views. This residential masterpiece was designed with the utmost sophistication and aesthetic integrity. The double-height Great Room with over 20-foot ceilings and a 586-square-foot wraparound terrace is the centerpiece of the residence. See floor plan and full details here.

In this article:

#10 (tie). Fifteen Hudson Yards, #PH88A
$75,000

#10 (tie). 243 East 17th Street, #TH
$75,000

#9. 432 Park Avenue, #66B
$79,000

Select which properties are of interest to you:

#8 (tie). 109 Waverly Place, #TH
$80,000 (-20%)

#8 (tie). 6 East 69th Street, #THOUSE
$80,000

#7. 101 Warren Street, #3210
$85,000

#6. 988 Fifth Avenue, #PENTHOUSE
$100,000

#5. Maison Hudson, #6
$105,500

#4. 56 Leonard Street, #PH56
$123,000

#3. Fasano Fifth Avenue, #RESIDENCE
$140,000

#2. 100 Vandam Street, #PENTHOUSE
$150,000

#1. One Madison, #PH
$160,000

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Price Cuts: "Big" screenwriter's Cobble Hill townhouse trimmed by $900K; Lantern House junior penthouse drops below $10M

Brick is Back: NYC developments revive the warmth of masonry; See Morris Adjmi's new design for 277 Canal Street

Manhattan contracts led by prestigious co-ops at The San Remo and 740 Park Ave; "Wolf of Wall Street" penthouse finds a buyer