But in 2025, something surprising is happening: more millionaires andultra-high-net-worth clients are choosing torent— and they’re doing it strategically.Representinghigh-endrentalscan create deep client relationships that lead to future purchases.
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And just like the rest of therentalmarket — where landlords have been throwing out concessions for the better part of a year — tenants in the uberluxe market are scoring fat discounts. Browne estimated thehigh-endrentalmarket is down 10 to 15 percent since late 2015.
Which makes it all the more appealing that, albeit at thehighestofhigh-endprice points, the wealthiest New Yorkers are now making like everyone else in NYC. Where most of us live in Manhattanrentalapartments, the richest New Yorkers long turned toultra-exclusive co-ops.
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