Category: Operation

Washington, 24 Mar, 2015: A spacious full-floor apartment in the Taj Hotels Resorts and Palaces of India owned property the Pierre Hotel, facing Central Park in Manhattan on Fifth Avenue, listed at a mind boggling $500,000 a month, has found a taker for the month of December.

The apartment, touted as the most expensive rental property in New York City, was taken by a tenant whose identity was not revealed by the listing agents, according to The Wall Street Journal. The same renter has also reserved a separate $150,000-a-month suite in the hotel for guests.

Jonathan Miller, president of appraisal firm Miller Samuel, said the $500,000-a-month listing sets a record for New York City residential leasing.

The pricier rental, which came on the market at the end of October, leased for full asking price to an international renter, while the less expensive suite rented for close to asking price, according to listing agents Therese Bateman and Andres Perea-Garzon of Town Fifth Avenue. The tenant has reserved both spaces through the end of December, Bateman said.

Bateman declined to give the renter’s nation of origin, though she said the listing received a strong response from Europe, the Middle East and British Commonwealth nations, the Journal report said.

The 39th-floor of the Pierre Hotel would typically list for $30,000 a night, while the Getty Suite rents for $8,000 a night.

Pieere had hosted the prime minister of India Narendra Modi at a grand reception in September.

The apartment combines the hotel’s presidential suite and several other hotel rooms, all of which come up to a massive 4,786-square-foot residence with six bedrooms and six bathrooms, the Journal reported.

The rental apartment has views of Central Park and comes with access to the hotel’s amenities, including its two high-end restaurants and a chauffeur-driven Jaguar.

The Pierre was once owned by Standard Oil tycoon John Paul Getty but has since been sold to Taj Hotels, part of the Tata group, founded by Ratan Tata. It has played host to countless celebrities, including Lady Gaga.

The hotel’s spectacular three-story penthouse, owned by stock investor Martin Zweig, is currently on the market for $95 million, said the Daily News.

The most expensive rental property in the US, however, is a house in Beverly Hills, California, called Beverly House, which at a price of $600,000 a month, pips the Pierre’s price tag.

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You are here:   HomeHotels NewsOperationUnidentified tenant moves into the $500,000 a month apartment at Taj-owned Pierre Hotel in New York
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