Yes, Jud Parker‘s Manhattan real estate steal is $10 a month for a 1,400 sq ft garden duplex on Minetta Street in the West Village …for the next 50 years. He made with original deal with landlord Wilfred Schuman, who owned a pair of three-story town houses at 12 and 14 Minetta Street since 1993. The new building owner, Pari Dulac, was shocked to learn of the details. She told the NY Post;
“When I saw the lease, I couldn’t believe it. I thought it was a joke.”
Schuman, who died in 2010, made the deal with Parker in August of 2009. The 50-year lease for the duplex, which has two bedrooms and a back yard, also has a 10-year renewal option. Dulac has filed a lawsuit claiming Parker tricked Schuman, who suffered from dementia, into agreeing to the deal. He was so bad off that other tenants had to set up a bank account to accept rent payments for the buildings on behalf of Schuman. After Schuman’s death, Parker “allegedly” started subletting the apartment right away for $2,500. (Which is still a steal!) Dulac bought the building for $2.75 million and wants to rent the apartment for around $6K a month which is about the going rate or cheaper. At this rate, one year’s rent would be less than Parker would pay for his entire 50-year lease. He defends himself, saying the lease was a “gift.”
“I was a surrogate son. I took care of him my whole life. [Dulac] wants me out because she’s greedy.”
Well, whatever the circumstances, it’s a sweet deal. Really, even better than owning the apartment because the maintenance and taxes are paid by the landlord. Personally, I wouldn’t have risked losing it by subletting it. That might be the loophole that is his undoing. We’ll see. Until then, he surely has the distinction of the cheapest apartment in Manhattan –in the best neighborhood too, I might add. (via Gothamist)
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