Decisions, decisions.

Should I rent this penthouse for $29k per month?

http://www.streeteasy.com/nyc/rental/444293-condo-99-jane-street-west-village-new-york?

or buy it for $85k per month?

http://www.streeteasy.com/nyc/sale/369999-condo-99-jane-street-west-village-new-york?

You're overly optimistic. At 7.5% you get:

Down Payment: $3,300,000
Mortgage Amount: $13,200,000
Mortgage Payment: $92,296
Total Monthly Payment: $98,167

Then, of course, eventually the tax goes up since it's abated.

Most of Manhattan is only 100% overpriced. Nice to see one that's 200%.