Celebrity Rentals: Why Tom Cruise and Katie Holmes Rent

celebrity rentals
celebrity rentals

One year ago, it was reported that Tom Cruise and Katie Holmes were interested in a $200,000/month rental in the Trump Park Avenue at Park Avenue and 59th Street in Manhattan, only the latest in a string of prominent celebrity rentals. Cruise's Mission Impossible 4 was about to begin shooting and would, in part, be filmed in the city.

When you think of the super-rich – people like the Cruises – it is easier to imagine titles changing hands quicker than leases. After all, how could someone with the expansive resources of celebrities, trust fund babies and CEOs actually be interested in renting?

It would seem, in the era of abandoned luxury apartment sales, luxury rentals are on the rise. Here's why: