Real Estate

A New York City Penthouse Just Rented For $85,000 Per Month

A Tribeca penthouse that just went to a tenant paying $85,000 per month could enter New York history as the city’s priciest rental.

Located at the top of 1 North Moore Street, the 5,500-square-foot penthouse has just four official bedrooms but is spread across three floors offering panoramic views of New York City. The property was listed in September for $90,000.

The Real Deal first reported the deal, and noted that Platinum Properties’ Cyrus Eyn and Cash Bernard received numerous offers to both rent and buy the property, with purchase offers ranging north of $20 million.

The owners ultimately chose tenants offering slightly less than the listing price at $85,000 per month because they felt they were the best people to take over and care for the art collection, which includes pieces by Damien Hirst and Andy Warhol, currently in the apartment.

The property also comes with 2,200 square feet of outdoor space that includes a terrace with a fire pit, a rooftop sundeck and a pool overlooking downtown Manhattan.

“Now for the ‘piece de resistance’ – the rooftop sundeck featuring an infinity-edge swimming pool and jacuzzi,” reads the listing description. “Situated on the top floor of this incredible residence, the color-changing pool has unobstructed views of downtown Manhattan as its backdrop.”

The building itself has nine stories and just six units.

While this property’s place as the most expensive rental to ever take place in New York could not be definitively confirmed, Miller Samuel CEO Jonathan Miller told The Real Deal that he was “not aware of an apartment that has rented for more than $185 per square foot per year.” (The $85,000 monthly rent works out to $15.45 per square foot per month or $185 per square foot for the year.)

Even after a brief downturn amid the coronavirus pandemic, New York luxury real estate has bounced back with a vengeance and soared to sights not seen ever before. Douglas Elliman reported that luxury sales in the city have already topped $11.4 billion even before the year has come to an end. The previous record occurred in 2014 and was $11.3 billion for the entire year.

As luxury real estate attorney Edward Mermelstein explained to Inman earlier this month, many of the city’s wealthiest residents will often still choose to rent even when they could buy anywhere they want for either convenience or contractual reasons to avoid complications that come with buying with a less-wealthy partner.

Email Veronika Bondarenko

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