An apartment at Ian Schrager’s 160 Leroy Street just rented for a peak price.
An associate of billionaire Michael Rubin leased Unit 8A-North for $40,000 a month, or $234 per square foot, The Real Deal has learned. The price is a record for the building, beating its previous price of $32,000 a month, or $189 per square foot.
The three-bedroom apartment was last rented in March.
The pricey rental deal comes as elevated demand for homes in Downtown Manhattan has pushed sale prices to new heights. Earlier this year, a financier’s penthouse at 150 Charles broke records when it sold for $60 million, double the last purchase price. Just six months later, Aurora Capital Associates’ 140 Jane Street snagged a signed contract for a penthouse asking $88 million.
The West Village “is an area without a lot of inventory, but it’s really desirable,” said R New York’s Matteo Rignanese, who represented the owner with Samantha Wes. He added that the rental price is “good news for 80 Clarkson,” Zeckendorf Development and Atlas Capital’s hotly anticipated new development tower, which is rumored to be snapping up top-dollar deals off market.
Rignanese said he first rented the 2,000-square-foot unit for $28,000 a month in 2023, up from its previous price of $22,000.
Unit 8A-N isn’t the first apartment to snag $40,000 a month, as another 8th-floor unit locked down that price in 2021. However, the price per square foot worked out to $171.
The apartment last traded in July for $7 million, according to public records. Rignanese, who represented the seller in the deal, said the previous tenant backed out of the lease in the middle of negotiations, and to push the sale over the finish line, he promised to find the buyers a new renter.
The latest lease signing followed a bidding war for the unit in which Rubin, the CEO of Fanatics, was involved in securing the apartment for his associate, who Rignanese described as an executive at the sports platform. Rubin owns a penthouse at 160 Leroy, which he paid $44 million for in 2018, then the priciest sale recorded below 14th Street in Manhattan.
The lease includes a two-year term, and the apartment was rented unfurnished. It has three bathrooms and 11-foot, floor-to-ceiling windows.
Amenities at the building, which Schrager developed with Ares Management, Weinberg Properties and William Gottlieb Real Estate, include 24-hour doormen, a port-cochere, pool and fitness center.
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