3br at Coronado?

I think it's competitively priced. The Coronado has traditionally posted higher numbers than larger co-ops in the same area.

I hate doing odious rent vs. own comparisons but in this instance, there is only a small premium to own vs. rent. 3br rentals in the Coronado are difficult to come by, it's a very desired building. While the square footage is low for the size of the apt, it is very efficiently laid out.

I think 1100 psf is competitively priced. Your looking at a very small box size. This is a clearly a starter negotiating price at 1400 psf.

Similar rentals in the neighborhood rent for $5200/mo. Your talking about net of taxes 2500/mo, so your $1.8 mm yields 12*2700 current savings or less than 2% per annum.

You can only deduct $1 mm, and the rate on a jumbo is 5.5%, or after tax about 3.5%.

At 1.5 mm, this is competitively priced, but still not compelling from the rent vs. buy standpoint.

Surely you can do better buying NYC muni's for 5% if you have cash. If you think rents are going up, you can hedge with apartment REITs.

The question is are you willing to pay a premium for the psychological benefit of ownership. Your decision, but you are paying a premium.