The rich really are different.
They pay less rent.
A wealthy hedge fund manager has found his name splashed across the tabloids today because his is fighting to keep his rent for the Park Avenue duplex where he lives with his family at the staggering low rate of $380 per month.
The duplex apartment, which is located at 71st Street and is just across from the famously prestigious 740 Park, is occupied by Ross Haberman. The board voted to raise his rent to market value, which would be in the thousands of dollars. An apartment in the building recently rented for $9000 a month.
How did Haberman get the greatest apartment deal ever? Apparently, Haberman’s grandfather was a real estate developer named Louis Katz. In his will, Katz gave his grandkids $300-a-month rental apartments. Most of the grandkids have moved out, although some are still involved in the management of the building. The news reports don’t make it clear but we wonder if some of these cousins are subletting the apartments for market rents and pocketing the difference.
Haberman, at least, occupies his apartment. He moved in with his second wife, Vicki Leigh Kaplan, and when they began having children, they combined his unit with one downstairs, raising his rent to $80 a month.
Apparently, Haberman may be able to keep this amazing deal. Haberman’s cousin and neighbour, Lauren Katz, proposed a board that would increase the rent paid by family members to “a rate closer to the fair market value of the apartments,” according to the New York Post. Haberman sued to prevent this.