The Market

Um, how much is that in studios?

By A. Ready | November 4, 2010 - 8:28AM 

Crain's New York is reporting that the Saudi royal family has rented seven apartments at the Waldorf-Astoria, for the princely sum of $210,000 a month on a six-month lease--an all-time rental record, according to brokers. The apartments, located on floors 37-41, are intended to accommodate 29 family members.   So what's $210,000 a month in denominations real estate commoners can understand? We ran the numbers: At today's median rents in Midtown East, that works out to about 100 studios, 74 one-bedrooms, or 42 two-bedrooms. (Crain's NY)

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