The Rise of the $50,000 Rental

Who would pay that rather than buy? You know, "someone who just bought a $50 million apartment and doesn’t have a place to go while the renovation is going on"

Step inside the rental that costs more than $250,000 a year

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Here is good news for the plutocrat who wants to try out Manhattan’s ritziest neighborhoods before taking the multimillion-dollar plunge. The market for super-high-end rentals is booming, with plenty of enticing options for tenants of every taste.

There’s a four-story townhouse on the Upper East Side for $35,000 a month that Marilyn Monroe once called her “sanctuary,” according to the listing, and a four-bedroom duplex in Midtown for $70,000 that Oscar winner Anne Hathaway used to rent. There are rentals in iconic new buildings and in grand old hotels. For $42,500 a month, you can live in the Chelsea condominium designed by Pritzker-winning architect Jean Nouvel. For a cool quarter million, there’s the Jewel Suite at the New York Palace, decorated with glass-encased rings and necklaces by the designer Martin Katz. (Management will gladly add the baubles to your bill, says Margaret Bay, an agent at Brown Harris Stevens, who has the listing.)