Manhattan’s luxury rental market skyrockets — reaching $100K a month amid pied-à-terre tax

Manhattan’s wealthiest residents just found a new way to dodge Mayor Zohran Mamdani’s pied-à-terre tax: Don’t buy at all. The city’s luxury rental market is shattering records as wealthy New Yorkers who could easily afford $20 million or $50 million trophy homes are choosing to rent instead, brokers say, a trend accelerating since the new tax on high-value second homes took effect. Manhattan median rents hit $5,295 a month in July, a record high, up 6% compared with last July and unchanged from June’s plateau, according to a Corcoran Group report obtained by The Post, with the average rent citywide...