Why do rich people rent rather than buy homes in New York?

You don’t have to believe the Manhattan brokers who say the rich are turning to renting; The numbers say it all.

The number of households earning at least $750,000 choosing to rent increased by 10.5% between 2018 and 2022. According to the Federal Reserve’s latest Survey of Consumer Finances.

Not only do the wealthy choose to rent in the city, they do so strategically.

In the billionaires club

“People in finance, technology and fashion focus on specific buildings, like a club they want to be ‘involved with,’ buildings like 220 Central Park South and 445 Greenwich,” says Francis Katzen of Douglas Elliman, which is marketing the arts supertower. 53W53.

220 CPS, the home of real estate billionaire Ken Griffin (who paid a record $238 million for his share of the tower), Vertical golf club about who’s who: from hedge funders and defense CEOs to entertainment companies and musician Sting.

“My clients are willing to pay a premium for 220 Central Park South because it offers more than just luxury living; it’s a gateway to an exclusive community of billionaires and global influencers,” says Jessica Campbell of Nest Seekers. “What really drives demand is access to an exclusive circle of residents so you never know which business giant or global leader you will bump into in the elevator.”

Campbell is listed 57B is a 3,211-square-foot, three-bedroom, three-and-a-half-bath apartment in the building for $90,000 a month.

‘Like-minded’ business giants

Other developers have also embraced the super-luxury rental-meets-clubhouse trend and are adding inventory specifically designed for those who want every waking moment to be a shoulder-rubbing opportunity. International business giants own 815 Fifth Ave., part private members club, part residence. It meets at Fasano at.

here is a 650-square-foot one-bedroom “clubhouse” unit goes for $50,000 a month (one block consisting of four three-bedroom duplex residences wants $140,000 a month).

“What really drives demand is access to an exclusive circle of residents so you never know which business giant or global leader you will bump into in the elevator.”

Jessica Campbell from Nest Seekers

You’ll get Thierry Despont furniture, a sculptural staircase, a full staff and views of Central Park — but even better, there are “like-minded people” in the house, says Erin Boisson Aries of Douglas Elliman, which is marketing the building. “We have a restaurant and it’s very social,” he says. “Although the minimum stay is 30 days, we have people staying from one year to three years.”

Global playgrounds for the rich

Boisson Aries is also the broker behind another innovative, high-priced lease targeting executives on the West Side Highway.

401 West St. Maison Hudson at is part of the Collection — a group of similar properties in prime locations where the world’s wealthy love to gab: London’s Belgravia; St. Barts; French playgrounds Courchevel, Saint-Jean-Cap-Ferrat and Paris.

This is catnip climbing the ladder.

New York location currently offering Residence 7, 2,205 square feet, two beds, three baths for $100,000 a month. Designed by Thomas Juul-Hansen with furnishings by Giorgetti and Battaglia with all the advantages of living in a five-star hotel, Boisson Aries says the real comfort here is the camaraderie provided by a 10-unit boutique building.

“Top secret. This is something special. This is very special. “It’s also very intimate and personal,” he says. “After trying New York, St. You would like to stay in the villa in Barts.” This is where the set will be, after all; Be prepared to pay around $450,000 a week during the holidays.