Manhattan’s Woolworth mansion has hit the market at $150,000 a month. America’s average mortgage balance is $150,000! The residence of impeccable pedigree was completed in 1916. Click below to read more.
Let’s not be too cynical about this, though. You get a lot for the money. First, it’s a residence with an impeccable pedigree. Designed by architect Charles Henry Pierpont Gilbert and completed in 1916, the Woolworth Mansion at 4 East 80th Street on New York’s Upper East Side is one of a trio of townhouses commissioned by American retail tycoon Frank Woolworth for his three daughters. A 25-foot-wide mansion on either side hugs the center building that’s for rent — and 40 percent wider. (Take that, sisters!)
According to Brown Harris Stevens, the firm handling the listing, it’s New York’s only mansion fully renovated in traditional pre-war style that is “formally” available for rent. Your monthly rent payment includes the furnishings, if you want them.
In case you’re wondering, rent of $150,000 a month is really a relative bargain; we crunched the numbers using our mortgage calculator and estimate that at a 3.5 percent interest rate with 20 percent down, your loan payment would have been $420,812.18 a month. Approximately.
