Ivanka Trump Having Tough Time Renting Park Avenue NYC Apartment
President Donald Trump has had a lifelong, successful career in real estate and it comes as no surprise to anyone that Ivanka Trump has lived in a beautiful New York City apartment. But Ivanka Trump is trying to rent her apartment while she is in Washington, D.C. with her family.
Ivanka Trump's apartment is at 502 Park Avenue in New York City, a very well-known Manhattan building. She has a 2 bedroom condo that also has 2 complete bathrooms. For anyone who knows anything about NYC real estate, this is a generously sized apartment!
Since November 2016, the apartment has been listed for rent at 15,000 a month. No, that's not a typo. We double checked it! Do keep in mind the apartment has lovely amenities, including 2 stunning marble bathtubs, something you rarely see.
So it’s certainly quite luxurious. In February 2017, the price was lowered just a bit to $13,000. But the price took a huge dip this week to $10,450.
For most of us, this apartment is simply out of range to rent, but do keep in mind that now Ivanka has lowered the price by 1/3, something that clearly shows a desire to rent the property out.
One thing to consider is perhaps people are hesitating because they realize there is a time limit on how long they can live there. Do remember this apartment is for rent and not for purchase. If President Donald Trump is re-elected for another term, then Ivanka Trump and her family will remain in Washington D.C. for an additional 4 years. So anyone looking at renting this apartment could estimate it will be available between 4 to 8 years.
The NYC real estate market can be quite competitive. Perhaps some are hesitating because they would prefer to find such a beautiful apartment that they know they can remain in permanently?
The top financial website Bloomberg estimates that the median rent for a luxury apartment in the NYC area is about $8,000. Ivanka Trump has been asking an original price that is nearly double that amount.
Now that her asking price has been lowered to closer what most pay for a premium place in Manhattan, perhaps she will see a lot more interest in her beautiful apartment.