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While they may be accustomed to above-average rents, even the most affluent Manhattanites would surely baulk at splashing out six figures a month on an apartment.
And yet, brokers say there is a growing appetite for ultra-luxe rentals as a community of wealthy mega-tenants is spreading itself across the Big Apple.
Despite having enough money to buy properties outright, these renters are instead paying up to $100,000 a month - or $1.2 million a year - for a place in the city.
Perhaps most galling of all, many are leaving the properties empty for almost the entire duration of their leases.
Brandon Trentham, a real estate agent from Compass, told DailyMail.com: 'The types of people renting these properties have homes all over the world.
Brokers say there is a growing appetite for ultra-luxe rentals as a community of wealthy mega-tenants is spreading itself across the Big Apple. Pictured: 217 West 57th Street where apartments are being rented out for $80,000 a month
Despite having enough money to buy properties outright, these renters are instead paying up to $100,000 a month - or $1.2 million a year - for a place in the city. Pictured: an apartment in 217 West 57th Street being rented out for $80,000 a month
Brandon Trentham, a real estate agent from Compass, told DailyMail.com: 'The types of people renting these properties have homes all over the world.' Pictured: an apartment in 217 West 57th Street being rented out for $80,000 a month
'They just want a place to stay when they're in the city but this is often only once or twice a year,' Trentham said. Pictured: an apartment in 217 West 57th Street being rented out for $80,000 a month
Trentham says the profile of tenants in these apartments can vary. Pictured: an apartment in 217 West 57th Street being rented out for $80,000 a month
'They just want a place to stay when they're in the city but this is often only once or twice a year.'
Trentham recalls a story of a tech worker who signed a lease for a 9,000-square-foot town house in New York's SoHo costing $100,000 a month. By the time he moved out a year later, he hadn't even bothered to unpack.
DailyMail.com found one apartment in Central Park Tower on West 57th street, Midtown, being rented out for $80,000 a month.
The listing, advertised on Street Easy, is for two units next door to each other equaling five bedrooms and seven bathrooms.
Located on Manhattan's famous Billionaires' Row, it comes with 'private dining, lounge and entertainment spaces, indoor and outdoor pools, several terraces and sun decks,' the advert states.
Another condo, located on Leonard Street, Tribeca, is listed for $100,000 a month. It boasts 6,000-square-feet, six bedrooms and 4.5 bathrooms.
A slightly more attainable apartment in Leroy Street, in the West Village, is listed for $23,000 a month. An online listing labels it a 'sun-flooded, two-bedroom, two-and-a-half-bathroom home.'
Trentham notes that renting rather than buying a property avoids the attention of the Internal Revenue Service (IRS). Pictured: an apartment at 38 Prince Street being rented for $80,000 a month
A rental property both suggests less permanence and offers more discretion. And many of the leases are corporate ones, meaning they are tax deductible. Pictured: an apartment at 38 Prince Street being rented for $80,000 a month
Brokers say many of these aspirational property hotspots becoming 'ghost buildings' which stay empty for much of the year. Pictured: an apartment at 38 Prince Street being rented for $80,000 a month
The trend has in part been sparked by former Mayor Michael Bloomberg who presided over the city for 12 years to the end of 2013. Pictured: an apartment at 38 Prince Street being rented for $80,000 a month
Bloomberg's office approved major developments in West Chelsea and Hudson Yards. Reshaping the city skyline was a focus of his administration. Pictured: an apartment at 38 Prince Street being rented for $80,000 a month
But the trend isn't without its risks to landlords as these tenants are so wealthy they have the means to fight against any disputes. Pictured: an apartment at 38 Prince Street being rented for $80,000 a month
Trentham says the profile of tenants in these apartments can vary. Many are foreign entrepreneurs while some are what he calls 'Bitcoiner' crypto investors. He recently even let out an apartment to an A-list star who was in New York to shoot a film.
And the reasons they may wish to rent rather than buy can vary too.
But he notes a key factor is that buying a property would be flagged for tax purposes.
Those living and working in New York City pay around 14.8 percent of their income on taxes, in addition to federal levies.
They can avoid triggering a tax bill is if they spend 183 days or fewer in New York throughout the year. But equally buying a property in New York that isn't their primary residence can also trigger an audit by the Internal Revenue Service (IRS).
A rental property both suggests less permanence and offers more discretion. And many of the leases are corporate ones, meaning they are tax deductible.
Trentham said: 'Once somebody buys a property, they then have to answer to the IRS about how many days they are spending there a year.
'Plus a lot of these tenants are indecisive - especially if they're foreign, they want to get to know the city better.'
A slightly more attainable apartment (pictured) in Leroy Street, in the West Village, is listed for $23,000 a month. An online listing labels it a 'sun-flooded, two-bedroom, two-and-a-half-bathroom home.'
An online listing labels the $23,000-a-month offering a 'sun-flooded, two-bedroom, two-and-a-half-bathroom home.' Pictured: a pool located in the building
For example, Corcoran agent Julie Pham told the Financial Times of one horror story whereby a tenant paying $50,000 a month for a flat in Hudson Yards insisted the toilets be upgraded to high-tech Toto units. Pictured: a view of 56 Leonard Street in May 2023 in New York City
She and the landlord agreed to split the cost of the upgrade but after the lease was up the toilets had disappeared and been replaced with standard cisterns. Pictured: a view of 160 Vestry, New York
Pham told the outlet: 'The tenant stole the toilets and technically she didn't have the right to re-enter the apartment to do it. It was so weird.' Pictured: a view of 56 Leonard Street in Manhattan in May 2023
It results in many of these aspirational property hotspots becoming 'ghost buildings' which stay empty for much of the year. Trentham estimates around 50 percent of the properties on Billionaires' Row are vacant at any given time.
The trend has in part been sparked by former Mayor Michael Bloomberg who presided over the city for 12 years to the end of 2013.
His office approved major developments in West Chelsea and Hudson Yards. Reshaping the city skyline was a focus of his administration.
But it isn't without its risks to landlords as working with such wealthy tenants means they have the money to fight against any disputes.
Corcoran agent Julie Pham told the Financial Times of one horror story whereby a tenant paying $50,000 a month for a flat in Hudson Yards insisted the toilets be upgraded to high-tech Toto units.
She and the landlord agreed to split the cost of the upgrade but after the lease was up the toilets had disappeared and been replaced with standard cisterns.
Pham told the outlet: 'The tenant stole the toilets and technically she didn't have the right to re-enter the apartment to do it. It was so weird.'