When you think of New York City neighborhoods where a pricey rental property could fetch as much as $20,000/month, Harlem might not necessarily be the first place that comes to mind. But a townhouse rental just north of Marcus Garvey Park has disproven that; according to the Real Deal, a property at 2001 Fifth Avenue, with a price tag of $19,995/month, recently found a renter.
Granted, the home comes with a bevy of amenities that could justify that asking price (inasmuch as anyone can justify asking $20,000/month for a rental): it was recently renovated, and comes with an indoor infinity pool, a sauna, a gym, two-car garage, two wet bars, a sun deck, and more. There are seven bedrooms, four full bathrooms, and an elevator connecting all of it.
But that’s still a pretty steep price, even for something that’s been renovated and kitted out with over-the-top perks. According to Jonathan Miller of Miller Samuel, that asking price “is both the highest face rent and net-effective rent we’ve ever seen in Harlem.” (Because the landlord offered one month of free rent, the net effective rent is actually $21,815/month.)
So there you have it, folks: $20,000 Harlem rentals are officially upon us. But don’t expect it to set off a wave of über-pricey rentals in the neighborhood; the median rent is about one-tenth of that, at $2,300/month. (Also of note: it was on the market for almost a year before finally snagging a renter.)