Inside NYC’s Most Expensive Rental, a $140,000-a-Month Fifth Avenue Penthouse
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Not everyone has the privilege to own a residence designed by Thierry Despont, the low-profile French architect, designer and founder of the Office of Thierry Despont, which makes this rare opportunity to rent a residence designed by him that much more special. Famous for his restoration of the Statue of Liberty, renovation of the Ritz Paris and creation of some of the most luxurious restaurants and private members’ clubs in the world, Despont also designed Fasano Fifth Avenue from the renowned Brazilian hospitality brand that opened in 2021.
The brand’s first North American location is a departure from Fasano’s glitzy hotels in South America; the ultra-discreet Fasano Fifth Avenue on Billionaires’ Row is a private club and hotel residence, of sorts, that offers seven studio suites and four 3,600-square-foot duplex residences only available to members for long-haul trips. The space is legally not allowed to rent to anyone under 30 days, and some members live in the suites and residences for a year or more. The entire building was designed in Despont’s signature style. His classically inspired elegance spans periods and looks, but the end result is always highly refined.
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“Fasano Fifth Avenue is an exquisite Manhattan residence for pied-à-terre audiences that prize flexibility and privacy,” says Erin Boisson Aries of Douglas Elliman. “Although residents book their stay with the same ease of a hotel, this is a place to wholeheartedly call home—a place where Thierry Despont has selected every detail and where Fasano tailors every moment and experience just for you.”
That is certainly the case with this residence at Fasano Fifth Avenue, currently the most expensive rental in the city at $140,000 per month. Perched on the 9th and 10th floors of the 14-story building, the residence has impeccable views of Central Park from its prime location on Fifth Avenue between 62nd and 63rd streets. The residence’s walls are swathed in Loro Piana textiles and the home is adorned with custom furniture and hand-selected vintage and antique decorative elements. There are three French-style, floor-to-ceiling windows, draped with thick curtains, that perfectly frame views of the park.
The first floor houses the living room, with a fireplace, that overlooks Fifth Avenue and Central Park; an eight-person dining room; and the gourmet kitchen outfitted in custom cabinetry. Meanwhile, the second floor has three bedrooms. The primary suite has Loro Piana cashmere-lined walls and a private terrace, plus his-and-hers walk-in closets and a spacious marble bathroom. The two floors are connected via a handcrafted oval staircase.
When designing Fasano Fifth Avenue, Despont wanted to create home-like hotel suites and residences that feel comfortable enough to stay in for months at a time. The wood-paneled lobby feels homey and familiar, and there’s a fabulous art collection throughout the 18th-century building. While Despont channeled Fasano’s Brazilian roots through wallpaper depicting the country’s native foliage, he made sure to include black-and-white vintage prints of New York in Caffe, the building’s elegant bar, to incorporate an authentic city feel.
“Lifestyle preferences are changing at the highest end of the residential market because of the pandemic, hybrid work, travel and so many other factors,” Aries says. “More clients are coming to me looking for a new kind of pied-à-terre that lets them come and go as they please, something they don’t believe exists, and so I’m always happy to tell them about Fasano Fifth Avenue. The only problem is we rarely have availability.”
The four floors of amenity space are about as private as you can get. They include the a lobby, private dining salon, Baretto bar, a courtyard garden and a fitness center with dry saunas. Fasano has full hotel service, such as in-room dining and in-room spa services, as well as laundry, dry cleaning, nightly turndown and personal training.
“Fasano is the most sophisticated and interesting real estate group today, with innovative ideas and plans in real estate investments,” Despont tells Robb Report. “I see a great future for Fasano and think that the group will be a name to be accounted for in both the US and Europe. We are currently working on a very exciting hotel project with them in south beach Miami after our successful collaboration on Fasano Fifth Avenue.”
Check out more photos of the property below:
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