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Sale at 1825 Madison Avenue #7H

Started by notadmin
almost 16 years ago
Posts: 3835
Member since: Jul 2008
Discussion about 1825 Madison Avenue #7H
a monthly cost of around $4k for a unit that you could rent in harlem for around $2,5k... plus $72k down plus transaction costs... who would do sth like that? even if you assume that most of the mtg payments are tax deductible, that would bring the monthly cost down to $2,5k. shouldn't one be able to save monthly in order to compensate the $72k plus transaction costs invested? ok, if you think there is rent inflation ahead maybe (a rich assumption imho).
Response by notadmin
almost 16 years ago
Posts: 3835
Member since: Jul 2008

hey, why so little interest?

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Response by jahanh
almost 16 years ago
Posts: 59
Member since: Jun 2009

Cause its above 110 street

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Response by notadmin
almost 16 years ago
Posts: 3835
Member since: Jul 2008

back in the day there was quite a bit of enthusiasm about Harlem...

guess that as expected affordability of the UWS increases, Harlem goes back to irrelevant as it's "above 96th".

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