Hedge Funder Battles to Keep Park Ave. Rent at $380
A Manhattan hedge funder is fighting to hang on to what has to be the best rent in the city: $380/month for a Park Avenue duplex, The New York Post reports.
(Yes, $380.)
In papers filed in Manhattan Supreme Court, Ross Haberman, who manages the Haberman Fund, says the board of 737 Park Ave. voted to raise his rent closer to market value–that’d be in the thousands, people. While we presume the hedge funder could certainly afford it, the suit says the building can’t raise his rent, the Post reports.
Mr. Haberman’s grandfather was the late Louis Katz, who was active in Manhattan’s real estate until his death in 1965. In his will, Mr. Katz gifted his grandchildren with $300-a-month rental apartments.
Mr. Haberman married and needed more space for children, so he combined his unit with a downstairs apartment back in 2000. That resulted in a “hefty” $80-a-month spike.
Mr. Haberman’s cousin and neighbor, Lauren Katz, “proposed a resolution which would increase the rent for each of the apartments occupied by the various family members to ‘a rate closer to the fair market value of the apartments,” the paper reports.
February 06 2010 02:09 pm | Real Estate News