Apartment at Naftali's 1045 Madison rents for $95K

"Rents in New York City are reaching never-before-seen levels even for the city's wealthiest. An apartment at the Benson, Naftali Group's 15-unit luxury condominium on the Upper East Side, rented for $95,000, or $288 per foot, this week. For a 12-month term, the price per square foot appears to be one of the highest in the city's history. Douglas Elliman's Lauren Muss, John Giannone and Jac Credaroli had the listing."

"Spanning almost 4,000 square feet, Unit 14 has five bedrooms, four full bathrooms and a great room with triple exposures overlooking Madison Avenue. The anonymous owner of the unit at the Benson had bought the condo from the sponsor for $14.5 million in 2022. In 2023, they rented the same unit out for $65,000 per month, according to StreetEasy. The Benson, at 1045 Madison Avenue, has amenities including a landscaped rooftop lounge, a cinema and a spa with sauna and steam rooms."

Rents in New York City have reached unprecedented levels, affecting even the wealthiest residents. A Benson Upper East Side apartment rented for $95,000 ($288 per square foot) on a 12-month lease. Unit 14 spans nearly 4,000 square feet with five bedrooms, four bathrooms and triple exposures overlooking Madison Avenue. The owner bought the condo for $14.5 million in 2022 and previously rented it for $65,000 per month in 2023. The Benson offers a landscaped rooftop lounge, cinema, and spa with sauna and steam rooms. Luxury rents have risen faster than Manhattan overall, with top-tier rents climbing sharply.

Read at therealdeal.com