When real-estate developer Don Peebles moved his family to Manhattan from Coral Gables, Fla., he decided to combine two adjacent ninth-floor apartments to create a 4, 750-square-foot, seven-bedroom, nine-bathroom home with glass walls on the Upper West Side overlooking the Hudson River. His wife, Katrina, spent two months decorating the apartment with abstract paintings from their art collection, whimsical wallpaper in the kitchen and tufted couches in the living room.
地产开发商唐•皮伯斯(Don Peebles)和家人从佛罗里达的科勒尔盖布尔斯(Coral Gables)搬到曼哈顿时，他决定将两套位于九楼的相邻的公寓合在一起，打造一个面积达4,750平方英尺（约合441平米）、带七间卧室和九个卫生间的居所，透过房子的玻璃 还可俯瞰上西区段的哈德逊河(Hudson River)。皮伯斯的妻子卡特琳娜(Katrina)花了两个月的时间布置公寓，挂上了他们收藏的一些抽象画，在厨房贴上了风格奇特的壁纸，还在起居室摆放了窝钉沙发。
Though the Peebleses invested significantly in their home, they don't own it. Instead, they are paying $35, 000 a month to lease it. Renting also gives them the flexibility change their minds about what neighborhood they want to live in if they decide to move. 'Our primary residence doesn't need to be an investment, ' he says.
尽管皮伯斯夫妇对房子的投入不菲，但是他们并不是房主，而是每月支付35,000美元房租把它租下。租房让他们可以灵活决定住在什么地方，可以随时搬走换个地方住。皮伯斯说：“我们的主要居所不必得是一项投资。”
A growing number of people who can afford to buy trophy homes are instead opting for a more temporary solution: the trophy rental. Some renters say they want to avoid tying up their money in steep down payments and instead are investing their money in the financial markets or their own businesses. Still, they're willing to spend tens of thousands of dollars a month on a rental to get the lifestyle they want.
越来越多买得起能显示身份的豪宅的人转而选择临时性的方案──租一处豪华房产。有些租房者称他们不想把钱套牢在过高的首付款上，转而把钱投入金融市场或是自己的生意当中。然而，他们依然愿意每月花费数万美元租房来获得他们想要的生活方式。
As a result, the highest end of the rental market has seen significant growth. In New York, apartments and townhouses priced at $15, 000 per month and up represented 1.3% of the market in December, up from 0.5% a year prior, according to Jonathan Miller, president of appraisal company Miller Samuel. Prices are rising quickly as well: the median price for the $15, 000-and-up sector is up 23.1% from a year ago. The uptick in rentals mirrors an overall trend nationwide in which the rental vacancy rate fell to 4.5% in fourth quarter of 2012, down from 5.2% a year earlier, according to real-estate research firm Reis Inc. REIS -1.19% ─and the lowest since 2001's third quarter.
结果就是，高端租赁市场出现了大幅增长。房产估价公司Miller Samuel的总裁乔纳森•米勒(Jonathan Miller)称，去年12月份，纽约月租金在15,000美元以上的公寓及排屋在市场上占比为1.3%，同比上升了0.5%。与此同时，租金也在迅速上涨，租金在15,000美元以上房子的租金中值年比上升了23.1%。租金的上涨反映出遍及全美的一个总体趋势：根据房地产研究公司Reis 的数据，美国2012年第四季度的出租房空置率从2011年同期的5.2%降至4.5%，为2001年第三季度以来的最好行情。
Astrid Pillay, a broker with Halstead in Manhattan, found two $35, 000-a-month rental townhouses for clients in December and says another recently offered a seller $1 million for a two-year lease on a townhouse currently for sale. A number of her rental clients, she says, are recent sellers of trophy homes who have 'just cashed out' and want to wait until the market dips again to buy. Other brokers say limited inventory of houses for sale has also helped the rental market. 'At this price point, you're not just going to settle for whatever is available, ' says Noble Black, a broker with Corcoran.
曼哈顿房产经纪公司Halstead的经纪人阿斯特丽德•皮莱(Astrid Pillay)在去年12月为客户找了两套月租为35,000美元的出租别墅，还有一名客户出价100万美元欲将当前挂牌出售的一座排屋租下两年。她说，在其租房客户中，有许多都是刚刚卖掉豪宅的人，手头现金充裕，想等到市场再次下跌时再出手买房。其他一些经纪人认为，待售住宅存量有限也助推了租房市场。房产经纪公司Corcoran的经纪人诺博•布莱克(Noble Black)称：“在目前这个价位上，你对市场上任何一所待售的房子都不会满意。”
New to the rental market in New York are three penthouses ranging in price from $30, 000 a month to $50, 000 a month in New York by Gehry, a new high-rise building in Lower Manhattan where one-bedrooms on high floors start at $5, 500 per month. The largest unit in the building is a 3, 800-square-foot, 76th-floor penthouse that includes a nearby studio apartment for nannies, maids or in-laws. Annual cost would top $600, 000 a year.
纽约租房市场新近出现了三套月租在30,000至50,000美元的顶层公寓，它们位于曼哈顿下城的新建高层公寓楼──New York by Gehry，该公寓楼内位处高层的一卧室公寓的月租起价为5,500美元。该楼最大的一个单元是位于76层的一套顶层公寓，面积达3,800平方英尺（约合353平米），它还包括邻近一套供保姆、佣人或姻亲住的开间式公寓。这套公寓的年租金可能超过600,000美元。
In California, luxury rents are increasing by 5% to 10% each year, says Bill Witte, president of developer Related California. In San Francisco, where Related California has one luxury rental building and several in the works, rents are already 10% higher than their peak before the recession hit, he says. At the Paramount, the developer's 40-story rental tower downtown, rents are now more than $4.50 a square foot, up from their prerecession peak of $4 a square foot. Related recently rented a 1, 190-square-foot two-bedroom apartment there for $6, 850 a month.
房产开发公司Related California的总裁比尔•维特(Bill Witte)称，加州高档出租房的租金正以每年5% 至10%的幅度上涨。该公司在旧金山有一座豪华出租公寓楼，还有几座正在建造当中，维特称租金已比经济衰退前的最高点高出10%。该公司位于旧金山市中心的40层楼的出租公寓楼The Paramount的租金如今已超过4.50美元一平方英尺，高于衰退前四美元的最高点。该公司一套1,190平方英尺（约合110平米）的两卧室公寓最近以每月6,850美元的价格租了出去。
In San Francisco's financial district, Millennium Tower, a 60-story high-rise where venture capitalist Tom Perkins owns a penthouse and retired quarterback Joe Montana rents two apartments, there's a two-bedroom just under 2, 300 square feet available for $15, 000 a month.
在旧金山金融区楼高60层的高层公寓楼千禧大厦(Millennium Tower)，一套面积略低于2,300平方英尺（约合214平米）的两卧室公寓以每月15,000美元的价格招租。风投资本家汤姆•珀金斯(Tom Perkins)在这栋楼拥有一套顶层公寓，退役的橄榄球四分卫乔•蒙塔纳(Joe Montana)也在此处租了两套公寓。
In Los Angeles, billionaire developer Rick Caruso recently opened 8500 Burton Way, an 87-unit apartment building near Beverly Hills and just last week unveiled its crown jewel: a three-bedroom, fully furnished penthouse unit with a monthly rent of $40, 000. Mr. Caruso put $2.1 million into building and decorating the unit─which includes custom-made macassar ebony bookshelves and Hèrmes wallpaper in the bathrooms─and says it is the priciest rental in Southern California. (A penthouse unit at 1221 Ocean Ave., a luxury building that overlooks the Pacific in Santa Monica where Britney Spears once lived, doesn't even come close, at $27, 000 a month).
在洛杉矶，亿万富豪开发商瑞克•卡鲁索(Rick Caruso)最近推出了位于比佛利山庄(Beverly Hills)附近、含87套房子的公寓楼──伯顿路8500号(8500 Burton Way)。他还刚刚在1月初推出了这栋大楼最珍贵的单元──一套带全套家具、月租金为40,000美元的三卧室公寓。卡鲁索在装修和布置这套公寓上投入了210万美元，定制了望加锡乌木材质的书架，卫生间贴了爱马仕(Hermes)壁纸。他说这是南加州租金最高的出租公寓。（在圣莫妮卡(Santa Monica)可俯瞰太平洋景色、布兰妮•斯皮尔斯(Britney Spears)曾住过的豪华公寓楼──海洋大道1221号(1221 Ocean Ave.)，一套顶层公寓的租价仅为27,000美元一个月，与其相差甚远。）
In Miami, rentals that were going for $25, 000 a month a year ago are now renting in the $40, 000 range, says Greg Mirmelli, a principal and founder of GM Real Estate in Miami. A home on Sunset Island, for example, now rents for roughly $40, 000, up from $30, 000 two years ago.
迈阿密GM房产经纪公司的主管及创始人格雷格•米尔梅里(Greg Mirmelli)说，当地一年前月租为25,000美元的房子，现在的租金已到40,000美元以上的价位。例如，日落岛(Sunset Island)一座别墅现在的租金要40,000美元左右，两年前只要30,000美元。
Daniel de la Vega, a managing partner of One Sotheby's Realty in Miami, says he's got six listings for condos or homes above $30, 000 a month or more, which are leasing much faster than usual, mostly to foreigners who will eventually buy something. A private gated home on the beach recently rented for $90, 000 a month; it is also available for sale for $14.9 million.
迈阿密房产经纪公司One Sotheby's Realty的执行合伙人丹尼尔•德拉维加(Daniel de la Vega)说，他有六所月租金在30,000美元以上的公寓和房子的挂牌信息，如今它们租出去的速度比平常快得多，主要租给了最终将购置住宅的海外人士。一所位于海滩的带门禁的宅邸最近以90,000美元一个月的价格租了出去，同时也以1490万的报价挂牌出售。
The rise of the trophy rental comes as many Americans continue to abandon ownership in the wake of the country's housing crisis and credit crunch. The U.S. homeownership rate was 65.3% in the third quarter of 2012, its lowest level since 1996, according to the Census Bureau. In the midst of the housing boom, in 2004, the homeownership rate reached 69.4%.
在美国房地产市场危机和信贷紧缩之后，许多美国人仍继续选择放弃买房，豪华出租房市场因而得以兴盛。美国人口普查局(Census Bureau)的数据显示，2012年第三季度美国的住房拥有率为65.3%，为1996年以来的最低水平。在2004年房地产繁荣期间，美国的住房拥有率曾达到69.4%。
'We are definitely seeing gravitation toward higher leases, ' says Billy Rose, president and co-founder of the Agency, a real-estate firm in Beverly Hills. 'A lot of the private-equity guys we see who used to buy are choosing to rent places for $10, 000 or $15, 000 a month now because they would rather play the market than buy a house, ' adds Mauricio Umansky, Mr. Rose's partner and Agency co-founder.
比佛利山庄房地产公司The Agency的总裁及联合创始人比利•罗斯(Billy Rose)说：“目前的租房市场绝对是上涨的趋势。”罗斯的合作伙伴、同为The Agency创始人的毛里西奥•乌曼斯基(Mauricio Umansky)补充道：“我们看到过去选择买房的许多私募基金行业的人现在都选择每月花10,000 或15,000美元来租房，因为比起买房，他们更愿意把钱投在股票证券上。”
Jonathan Moore, a 25-year-old entrepreneur, currently leases a two-bedroom at the Ritz-Carlton Residences at LA Live in downtown Los Angeles for $6, 200 a month. Mr. Moore, who runs an alternative investment-management company called GCM Capital Management, says that right now he would rather keep his money in his business rather than plunk it down on a large down payment, especially when he doesn't plan to stay in one place for more than five or 10 years. 'I am an illiquid millionaire, so it would be hard for me to unwind my stake in my business, ' he says. 'But this way, I get all the benefits of being a homeowner, and all the luxury amenities, without the financial downsides.'
乔纳森•摩尔(Jonathan Moore)是一名25岁的创业者，经营着一家名为GCM Capital Management的另类投资管理公司，目前他在洛杉矶市中心的综合娱乐区LA Live的丽思卡尔顿公寓(Ritz-Carlton Residences)租了一套两卧室公寓，租金为6,200美元一个月。摩尔说目前他更愿意把钱投在生意中，而不是把它砸在一大笔首付款上，特别是在他还没有打算在一个地方呆上五年以上或10年时间的时候。他说：“我是一个没有流动资金的百万富翁，因此我很难把我生意中的股本抽出来。但是租房的话，我能享受到当房主的所有好处，享受到所有豪华设施，也不用承担财务上的不利影响。”
Renting, of course, does have its drawbacks. Renters may be subject to landlords raising fees or refusing to renew a lease, for example. With homeownership, 'you have some security with respect to the ability to control your own destiny, ' says Stuart Gabriel, the director of the UCLA Ziman Center for Real Estate. Still, ownership typically only makes economic sense for those looking for stay put for several years. Property values need to appreciate enough to cover closing costs and other fees. 'You're speculating on housing prices and included in that speculation is the cost of buying and selling, which can be substantial, ' he says.
当然，租房也有其不便之处，例如租房者可能会遭遇房东涨房租或拒绝续租约的事情。加州大学洛杉矶分校齐曼房地产研究中心(UCLA Ziman Center for Real Estate)的主任斯图亚特•加布里埃尔(Stuart Gabriel)称，自己有房的话，“在控制你自己命运的能力方面会有些保障”。尽管如此，就经济上而言，买房通常只对那些打算在某地呆上好几年时间的人有意义。房产价值需升值足够幅度才能抵消房产买卖的手续费和其他费用。他说：“买房相当于投机于房价，而这种投机还包括买房和卖房的成本，这可能是一笔很大的数额。”
Real-estate brokers say their listings for the largest, most-expensive rental apartments tend to go very quickly─sometimes exceeding their asking prices. Bo Poulsen, a broker with Town Residential in New York, says he recently had four offers for a TriBeCa apartment asking $18, 500 a month shortly after it hit the market. It ended up renting for $21, 000. 'That definitely was not happening a year ago, ' he says.
房产经纪人称，那些面积最大、租金最贵的挂牌出租公寓通常会租得非常快，有时候租金还超出了他们的要价。纽约房产经纪公司Town Residential的经纪人博•波尔森(Bo Poulsen)称，翠贝卡区(TriBeCa)一套报价18,500美元一个月的公寓在推出市场后，他很快收到了四个报价，最终以21,000美元的价格把它租了出去。他说：“这种情况在一年前肯定不会发生。”
According to real-estate tracker Streeteasy.com, the median amount of time a New York rental property above $15, 000 a month spent on the market was 10 weeks, down from 12 weeks in 2011.
房地产数据跟踪公司Streeteasy.com的数据显示，纽约一套月租金在15,000美元以上的出租房挂在市场上的时长中值是10周，短于2011年的12周。
The relatively low inventory and high demand means unsolicited rental offers on for-sale properties have become commonplace. Restaurateur Jeffrey Chodorow recently received an offer of $75, 000 a month to rent his 3, 700-square-foot Manhattan condominium, which is on the market for $18.8 million, says his broker, Oren Alexander.
存量较低以及市场需求大导致许多租房者主动提出租下待售的房产。餐厅老板杰弗瑞•霍多罗夫(Jeffrey Chodorow)在曼哈顿有一套3,700平方英尺（约合344平米）的公寓，公寓目前以1880万美元的报价挂牌出售，其经纪人奥伦•亚历山大(Oren Alexander)透露，最近有人向霍多罗夫出价75,000一个月把它租下。
Limited availability of homes for sale is also driving buyers to the rental market. 'If you want to live in a brand new apartment, there just isn't anything available right now─every building is full, ' says Gregg Lynn, a luxury broker at Sotheby's International Realty in San Francisco. 'You have to wait until 2015 for new construction.'
市面上待售房产的数量有限也推动了买家转向租赁市场。旧金山苏富比国际地产公司(Sotheby's International Realty)的豪华房产经纪人格雷格•林恩(Gregg Lynn)说：“如果你想住一套全新的公寓，眼下市场上可没有供应，每栋楼都住满了。得等到2015年才有新楼。”
Some of the newest high-end rental buildings were originally designed as boom-era condominiums and converted when sales were slow. In many cases, owners opted to rent the units because they didn't want to sell them at distressed prices.
有些最新推出的高端出租住宅楼原本是设计成在房产繁荣时期出售的公寓的，在销售放缓后被进行了改造。很多时候房主会选择把房子租出去，因为他们不想折价把它们卖掉。
In Hollywood, the Avenue was converted into rental apartments from condos when its backer fell into bankruptcy. The building now features $7, 000- to $11, 000-a-month penthouses with 25-foot ceilings. It is already 95% leased. 'When we took over the project, it was a half-done busted condo deal, ' says Rob Goodman, chief executive of Resmark Cos., which opened the Avenue.
在好莱坞，The Avenue大楼在其金主陷入破产时从供出售的共管公寓被改造成了出租公寓。如今，这栋大楼主推月租在7,000至11,000美元、挑高达25英尺（约合7.6米）的顶层公寓；其95%的公寓已经租出。最终推出Avenue项目的房地产投资咨询公司Resmark的首席执行长罗伯•古德曼(Rob Goodman)称：“我们接手这个项目时，它是一幢半完工的烂尾公寓楼。”
Ken Kahan, founder of real-estate company California Landmark, is currently building three luxury rental buildings in Los Angeles. One of those projects, the bw in Brentwood, was originally designed as a condo project that Mr. Kahan converted to a rental development after the recession hit because it became too difficult to secure financing for condominiums.
房地产公司California Landmark的创始人肯•卡亨(Ken Kahan)目前正在洛杉矶建造三座豪华出租公寓楼。其中一个位于布伦特伍德(Brentwood)、名为bw的项目原本是设计为一座共管公寓楼的，在经济发生衰退后，卡亨把它改建为一座出租住宅楼，因为为共管公寓项目融资变得非常困难。
The new demand for luxury rentals has spurred the expansion of several national companies, including AKA, which has rental buildings in New York, Philadelphia, Washington and London. Later this month, AKA is completing the finishing touches on a luxury rental in Beverly Hills, where furnished apartments under 2, 000 square feet rent for $12, 000 to $16, 000 a month. That development offers amenities such as a 50-seat screening room and a private entrance to Spago, an upscale Beverly Hills restaurant that will also deliver room service to residents.
对豪华出租房的新需求刺激了几家全国性公司的扩张，其中包括在纽约、费城、华盛顿和伦敦拥有出租楼的AKA。该公司在比佛利山庄的一栋豪华出租公寓楼在1月底完成收尾工作，其配备家具、面积不到2,000平方英尺（约合186平米）的公寓的月租金在12,000至16,000美元。该住宅楼提供的设施包括一个50座的放映室和通往比佛利山庄高档餐厅Spago的私家入口，该餐厅也为该楼住户提供送餐服务。
Related Cos., a major apartment developer, just launched their priciest rentals ever in New York in a Midtown building called One MiMA Tower. After seeing condos renting in another development for over $20, 000 a month, 'we thought, let's go here because we can actually cater to this submarket that exists, but no has been addressing, ' says Daria Salusbury, a senior vice president with the company who oversees leasing. The smallest units in One MiMA, junior one-bedrooms, start at $4, 800 a month. Three-bedroom penthouses with 2, 200 square feet are priced as high as $25, 000 a month.
主流公寓开发商Related Cos.刚刚在纽约中城一座名为One MiMA Tower的公寓楼推出了他们有史以来租金最贵的公寓。该公司主管租赁业务的高级副总裁达莉亚•塞勒斯伯利(Daria Salusbury)说，看到另外一处住宅楼的公寓租出逾20,000美元一个月的价格后，“我们想，我们进入这个市场吧，因为我们能够迎合这个业已存在的次级市场的需求，而这一需求还未能得到满足”。One MiMA面积最小的户型是小型一卧室公寓，其租金起价为4,800美元一个月，面积为2,200平方英尺（约合204平米）的三卧室顶层公寓的月租金则高达25,000美元。
The company also broke ground last month on its long-stalled billion-dollar project on Grand Avenue in downtown Los Angeles. But rather than beginning with the planned first phase of the project, which involved building 390 condos in two structures, the company is instead building luxury rental apartments. 'We knew we could take a run at a rental building with the rental market strengthening, ' says Related California's Mr. Witte, 'whereas condo prices, while they are beginning to creep back up, aren't high enough to justify new construction.'
此外，该公司在洛杉矶市中心格兰德大街(Grand Avenue)一个搁置已久的数十亿美元的工程也在去年12月开工。不过，该公司没有按原计划从第一阶段的工程（包括在两栋楼内建390套公寓的计划）开始，而是建造起了豪华出租公寓楼。Related California的维特说：“我们知道，随着租赁市场的走强，我们可以试一试出租公寓楼，共管公寓的售价尽管开始回升，也没有升到足以让建新楼划算的程度。”
Wealthy individuals are also getting into the game, buying condo units expressly to rent out as a steady investment vehicle. Last fall, the El Royale, a 56-unit Art Deco tower near Hollywood, sold for $29.5 million to investors looking for rental properties. At $527, 000 per unit, it is one of the highest prices ever paid for an older building in Southern California. Likewise, the Frank in Venice sold last year for $56.7 million, or $810, 000 per unit, one of the highest prices ever paid per unit in Los Angeles.
资金充裕的个人投资者也开始参与进来，购买共管公寓用于出租，以此作为一个稳定的投资工具。去年秋季，好莱坞附近含56套公寓的装饰艺术风格大楼El Royale作价2950万美元卖给了寻觅出租房产的投资者。其售价合每套527,000美元，是南加州老公寓楼有史以来卖出的最高价格之一。威尼斯(Venice)的Frank大楼在去年也卖出了5670万美元，合每套810,000美元，为洛杉矶单套公寓有史以来的最高价之一。
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