Live on Bloomberg TV

00:00You have to be wealthy to rent this. The gross income has to be over five hundred thousand minimum where in this gracious townhouse on 238 East forty nine street you can feel the warmth and all the history when you come in from the time you walk into the four year up the staircase to this beautiful grand parlor it is five stories. Forty five hundred square feet with several terrorist is wood burning fireplaces four bedrooms five and a half baths. It's just a grand townhouse all of this was carried over carefully from France the paneling all the insects the wood the chandelier here is from Yoko Ono's house this gardener goes all the way up this whole block. It's the largest private garden in New York right now I'm asking twenty one thousand nine hundred per month which is a very good price for the space that you get the high end market is booming. There is the age old question of whether to rent or buy. The rental market is very strong now because the prices have gone so high on sales people have decided to not step up to that market at this point and still want to be in a luxury building so they stay and pay the high rentals. I truly believe the high end market is going to continue to rise. There's no other place for it to go .

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Step Inside the Rental That Costs More Than $250K a Year

The market for super-high-end rentals is booming, with plenty of enticing options for tenants of every taste. This five-story townhouse is on the market for $21,900 a month and features multiple terraces, wood-burning fireplaces and the largest private garden in New York City. (Video by: Sadie Bass, Justin Beach) (Source: Bloomberg)

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