#manhattan-rents

#manhattan-rents

The view of upper Manhattan from above showcases a dense cityscape alongside a large swath of green, highlighting the beauty of Central Park.

The yellow-painted brick and limestone structure measures 21 feet wide and has five bedrooms and half a dozen bathrooms in roughly 7,800 square feet across six levels, all accessible by an elevator.

When we saw this home - with its east-west exposures and windows that could be seen on both sides - we were immediately sold. It was the third house we looked at, and we were so lucky the owner accepted our offer. It was a very competitive moment for home sales in the neighborhood, and the fact we were able to make it happen felt like a dream.

BHI provided a $167 million construction loan to Yellowstone Real Estate Investments for the conversion of the Candler Building into a 176-unit residential tower with retail space, totaling $203 million in financing.

Earlier this week, former Howard Hughes CEO David Weinreb agreed to rent his West Chelsea penthouse for $177,500 a month, an eye-popping figure that followed a $95,000-a-month lease at a Naftali Group building on the Upper East Side in December. Data on trophy rentals is tough to pin down, but this is likely among the most expensive leases ever inked in New York City. The two hefty leases came as inventory for Manhattan's trophy rentals—which appraiser Jonathan Miller defines as the top 1 percent of the market, with rates starting at $25,000 a month—was down more than 40 percent year-over-year in January, as new leases climbed (albeit, at a more modest pace).