Development firm Stonehenge Partners is betting that a Morningside Heights rental building can command Tribeca penthouse prices. The landlord is set to list a unit atop 1080 Amsterdam Avenue for a massive $10,500 a month.
The five-figure price tag easily makes the penthouse unit the priciest rental apartment in the neighborhood, according to the New York Daily News.
“The market is ready for this kind of high-end residence,” said Donna Kreeger, a Harlem broker with Citi Habitats who is not working with Stonehenge Partners on the project.
The full-floor, 1,300-square-foot penthouse has just two bedrooms and two bathrooms, however, Stonehenge is hoping that the wraparound terrace with views of the Gothic cathedral St. John the Divine will to justify the tremendous ask.
“The market is turning toward luxury across the city, and Harlem is getting a piece of that action,” said broker Jeffrey Krantz of Halstead Property. “You’d have been hard-pressed to find a rental with condo-level finishes in Harlem a few years ago. Now there’s a proliferation of them.” [NYDN] – Christopher Cameron