The Housing Crash Is Affecting Us All… Including the Ultrarich
If you’re finding yourself looking to rent out your home these days instead of selling it because of the market, you’re in great company. From middle class to the very wealthy rentals continue to rise. At the highest end of the rental market, defined as apartments renting for $10,000 a month or more, the 200 new leases signed in the third quarter amounted to more than double the number at the same time in 2009 —
So what do you get for $100,000 a month? At Trump Park Avenue, at Park Avenue and 59th Street, you would get a four-bedroom 6,200-square-foot duplex penthouse where one of the six and a half bathrooms is 400 square feet in size. There are also 1,600 square feet of outdoor terraces. The condo went on the market in 2008 for $51 million, and was also listed for rent at $200,000 a month.
