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Live at the top of an iconic, amenity-rich building in a penthouse...for rent! (8 Spruce, Serhant LLC) Live at the top of an iconic, amenity-rich building in a penthouse...for rent! (8 Spruce, Serhant LLC)
New York City is known for its astronomical rents, some at prices one would assume only a millionaire could afford. That is not hyperbole: A new study by RentCafe has found that the number of millionaire renters in New York has tripled over the past five years (from 905 is 2105 to 2,500 in 2020). Not only are New York’s numbers ten times higher than San Francisco’s, the city with the second-highest number of millionaire rentals, but the city is home to the greatest majority of wealthy renters in the entire United States.

The study did not cite a reason for this, but there are a number of factors at work here. Home prices are on the rise, which may put the kind of home one wants out of reach even for millionaires. Additionally, it must be noted that New York's new “mansion tax” went into effect between the years compared in the study; 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, when they’re in New York, they have come to find that between high-end finishes, dedicated staffs, and glitzy amenities, rental apartments are not to be ignored. We take a look at the most fabulous units for rent currently on the market.

10 East 62nd Street, #1L1234 (Compass)

The Puck Penthouses, #PH2 (Corcoran Group)

432 Park Avenue, #44A (Douglas Elliman Real Estate)

25 Mercer Street, #PH (Douglas Elliman Real Estate)

134 Charles Street, #2 (Compass)

40 Central Park South, #PHD (Essential New York Real Estate LLC)

8 Spruce, #PHN (Serhant LLC)

11 Greene Street, #PH (Serhant LLC)

13 East 9th Street, #GARDENDU (Brown Harris Stevens Residential Sales LLC)

7W21, #18D (Rose Associates)

104 East 36th Street, #2 (Compass)

108 West 73rd Street, #3 (Douglas Elliman Real Estate)

111 Varick Street, #PH1 (Douglas Elliman Real Estate)

405 Broadway, #PH (Compass)

Kenton Place, #PHA (Corcoran Group)
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