Google Maps
Free Upper East Side News, Delivered To Your Inbox
An Upper East Side luxury rental is drawing attention for just how high the numbers climbed.
Advertisement
A nearly 4,000-square-foot apartment at The Benson, a boutique condominium developed by Naftali Group, has rented for $95,000 per month—about $288 per square foot.For a standard 12-month lease, the price per square foot is among the highest figures market observers say they’ve seen in New York City, though comprehensive rental records are limited.
ALSO READ: A Mets Star Just Dropped $21.2M on an Upper East Side Penthouse
The apartment, Unit 14, spans almost 4,000 square feet and includes five bedrooms, four full bathrooms, and a large great room with triple exposures overlooking Madison Avenue. The full-floor residence is located within the 15-unit building at 1045 Madison Avenue (between 79th and 80th streets) and comes with amenities including a landscaped rooftop lounge, a cinema, and a spa with sauna and steam rooms.
The listing was handled by Douglas Elliman agents Lauren Muss, John Giannone, and Jac Credaroli, while the tenant was represented by Serhant’s Peter Zaitzeff. According to The Real Deal, the unit was initially listed at $85,000 per month and ultimately rented above ask after multiple bidders viewed it during a single two-hour showing window.
Public records show the anonymous owner purchased the condo from the sponsor for $14.5 million in 2022. The same unit rented for $65,000 per month in 2024, according to StreetEasy.
Advertisement
“It’s difficult to ascertain a true priciest rent per foot given the lack of public records around rentals,” Jonathan Miller, CEO of appraisal firm Miller Samuel, told The Real Deal. “If it’s not the highest, it’s one of the highest ever.”ALSO READ: Gloria Steinem Buys Third Upper East Side Apartment
The deal comes amid continued strength at the top end of Manhattan’s rental market. In November, Manhattan’s median rent rose more than 13 percent year over year to a record $4,750, while luxury rents—the top 10 percent of leases—rose nearly 18 percent to a median of $11,500, according to data cited by The Real Deal.
Recent ultra-luxury rentals include a $90,000-per-month lease at 220 Central Park South in 2023, as well as $150,000-per-month rentals at 100 Vandam Street and 24 Leonard Street.
Agents involved in the Benson deal said the tenants were renovating their townhouse and were willing to pay above the asking price to secure temporary housing in a market with extremely limited inventory for large, newly built or newly renovated luxury rentals.
Have a news tip? Send it to us here!
