“The $100,000-a-month number is almost normal now,” one broker said.
Page F4From§Eachthe early bird edition — 1 September 2026
Luxury rents hit $100K a month as pied-à-terre tax stalls
Manhattan’s luxury rental market reaches $100,000 a month, while the pied-à-terre tax meant to curb such prices remains stalled. The reconciliation runs straight: the market sets the price, the tax sits idle. The receipts show the gap—rents rise, the policy remains unimplemented. The beneficiaries are clear, and the ledger is precise. The cost is paid in monthly checks, and the promise sits in a committee file. The market moves, the tax waits. The question is not whether the tax would change the price, but whose column the delay fills. In lieu of flowers, hon, tally the rent and the legislative pause.
“You watch rents balloon to $100,000, and the tax that’s supposed to slow them down gets stuck in committee. That’s not a market, it’s a game where the house always wins, and you pay to play.”
“The market is healthy and competitive, and the tax is being carefully considered. Did I say stalled? That’s just a temporary delay. Besides, luxury rentals support the economy, and the tax could hurt growth. Wait, I mean, it’s about balance.”
The receipts
The Wal l Street Journal’s Emma Camp recently put out a short video criticizing “rent control” (I put this in quotes because the term can describe many different policies and one of the video’s first sins is lumping them all together as one thing). The clip became popular online and earned acclaim from those who believe regulating rents…
This page is a back-issue: the story as it ran, receipts as they were. The current edition is at the front.