Paul Krugman's new UWS apt. Good deal?

Can't fault him for buying on Riverside Drive, which is simply majestic. They'll do fine in the long run.

It closed for $1,700,000. If it's the same floorplan as 11E, and in similar condition, I'd say he did rather well. 11E closed for $2,103,000 in 05/05.

03/31/2008 Listed in StreetEasy by Brown Harris Stevens at $2,495,000.
09/02/2008 Price decreased by 12% to $2,199,000.
01/31/2009 Price decreased by 16% to $1,850,000.
05/07/2009 Listing entered contract.
08/07/2009 Sale recorded for $1,700,000.
08/11/2009 Listing is no longer available.

Good deal if you can bear a dark apt with absolutely no views.

Address?

http://www.streeteasy.com/nyc/sale/211311-coop-110-riverside-drive-upper-west-side-new-york

10023, it doesn't look terribly dark. are the bedrooms caves?

How is he making that kind of money as a newspapaer writer? Does he really sell that many books. I read one of his books in like 20 minutes once and its contents were the same thing I learned in high school for free.

. . . and it was in the book store I wouldn't waste money actually buying it.

He also appears as a commentator on the current affairs shows. I don't know how they pay but they must get something.

I think he was being a bit droll on the "coming into money" part. He just won the Nobel Prize, which comes with a ~$1M cash award.

he got 1.4 million for the nobel. i'd buy too. why not. free money is the best kind

that $1.4 million was taxable at the income level (not capital gains), so make it $850,000 after taxes.

i think it looks great. if the guy is on the speech circuit, he's got to make $15-$20K per.

AR: all rooms face interior light wells.

dark? isn't it surrounded by windows? very nice location

Interior light wells.

nyc10023 We saw this apt, and dark is not the first word I would use to describe it. In need of a serious kitchen reno, yes. Dark, no way. Plus, it's a fantastic building.

why would Krugman buy in Manhattan? Isn't Manhattan a bit of a commute to Princeton?

wow.. a whole nobel = 1 apt in nyc... sounds right....

Good space in a great building where they'll fit right in. Can't really argue with that. As for the views, there isn't a lot to choose from on that stretch of Riverside right now. They might have had a better selection in the fall, but who knows?

> They'll do fine in the long run.

In the long run we're all dead.

And the slightly less long run, only if you define "fine" without an understanding of economics. Interest rate risk is a big factor. "breaking even" over the long term is a significant loss.

The guy who complains about the rich getting richer and the outrageousness of the Bush tax cuts is buying a second home for $1,7M? Shouldn't he be donating his downpayment to the poor to close the gap? I mean the guy already has a nice house in Princeton. Such an extravagance for a big-time socialist!