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Volume XVIII • Number 24 • May 19 - 25, 2011 •
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Rent control? This house is just $17,000 a month! By MIAWLING LAM And Jimmy McMillan thought the rent was too damn high. A palatial 11,200-square-foot mansion in the heart of Riverdale has just hit the rental market for a staggering $17,000 a month. It is believed to be one of the most expensive residential properties to ever enter the Bronx rental market. The sprawling six-bedroom, nine-bathroom palace, located at 5020 Iselin Avenue and within the confines of Fieldston, boasts a private elevator, butler’s pantry and three wood-burning fireplaces. A top-of-the-line gourmet kitchen with a Sub-Zero refrigerator, six-burner Viking stove and wine cooler also boosts its appeal to culinary enthusiasts. If those bells and whistles aren’t enough, the ritzy home— part of the Villanova Heights estate—even features an inground heated swimming pool and adjoining cabana. Designed by world-renowned architect Robert A.M. Stern and built in 2004, the three-story home has been on the market since April 23 and is listed for $17,000 per month, furnished. Those with their own furniture are eligible for a discount and can rent the home for $15,500 per month, unfurnished. CitiHabitats listing agent Nathan Sheard said the pad was “definitely” the most luxurious currently on the market in The Bronx. The agent at the New Yorkbased real estate brokerage firm said while nobody has come forward to plunk down money, it was still early days. “We’ve just started the marketing process and we’re just getting the word out there,” he told the Riverdale Review. “The architect did an amazing job with the property. You have all the modern amenities but also all the classic details. The attention to detail is just really amazing. “A lot of us make a lot of sacrifices in order to live in New York as far as space, but at 11,000 square feet, it’s definitely something that can be very comfortable.” Landscaping services, daily housekeeping, 24-hour security and an on-site supervisor are also included in the monthly rental price.
Hardwood floors provide a touch of elegance, while the muted color palette of creams, whites and lattes throughout the property complete the contemporary look. In the gushing real estate blurb, prospective renters are told the classic arts-and-craftsstyle abode would make them “the envy of even the early 20th century’s barons of industry.” City property records indicate the mansion has a revised market value of $16.74 million for fiscal year 2011-12. Paperwork also reveals a deed transfer title worth $4.15 million was executed in January and that Chapel Farm Estate, a corporation owned by John Fitzgerald, is the current owner. As of press time, calls to Villanova Heights and John Fitzgerald for comment were not returned. Sheard said Fitzgerald has no interest in selling but may reconsider if a buyer is willing to drop a cool $7.25 million. Despite the current financial situation, Sheard remained upbeat and said he was confident of finding an interested renter, either on a short-term or long-term basis. “There are a lot of avenues that we think is potentially advantageous for this property,” he said. “Seeing that it is positioned very conveniently to both Yankee Stadium and the New York Knicks, who have a practice facility in Tarrytown, there’s definitely potential. “We also work closely with the major firms that specialize in corporate relocation, so with a lot of firms bringing in clients from Hong Kong, Singapore and the U.K., it would be a great opportunity for them to have a place where they can live and take advantage of life in the city.” According to a suburb snapshot produced by online real estate resource Trulia, the median sales price for homes in Fieldston jumped to $2,087,500, a 136.5 percent increase between November and April. The six-figure price tag for properties in the exclusive community is 464 percent higher than the median sales price for homes in the rest of the borough.
The exterior of the very expensive rental house on 5020 Iselin Avenue.
If you can afford $17,000 a month in rent, you could also afford to eat out.