SteveF *High Fives*

Absolutely, maybe meet up for a beer. I've obviously got infinite time ;).

Field trip to Brooklyn Brewery? ;)

so bj, why dont you acris the fellow owner's purchase price?? then you'll have the rent buy for that apt

and why does the developer being "already in the black" make her "more inclined to get a deal done at that point"?

and sorry, 16 just aint the case for nyc apts, lo mid 20's is the rule--

Sounds good, email me at _se@yahoo.com.

That didn't go through right. It should read myloginname_se@yahoo.com.

Wbottom, I think there are pockets where you find lower than the 20s. Coops in Midtown East or Yorkville are two that come to mind.

Bottoms, I know what they paid. Their rent/buy is just over 17 given the rent they are actually receiving. Crazy, I know.

"and why does the developer being "already in the black" make her "more inclined to get a deal done at that point"?"

I wouldn't say it's true of all developers, but once they've made a decent return on the project, they've sold most of the units, and are gearing up for the next (or just eager to be done with this one), expediting the sales process becomes more of a priority. Sometimes that comes at a "cost" of somewhat lower returns on the last couple units in the building. Of course, there are sponsors who will wait it out and milk every last cent they can, but that can backfire.

"lo mid 20's is the rule"

Rules, schmules. If you think everything holds true to that, you're not going to get very far. Sorry, bottoms.

Thanks nada, will do.

>if 15X is the multiple where price settles, then ...

Even more moronic than believing in reversion to the mean, is believing that after the mean reversion happens that there will be settlement and no more change.

"Bottoms, I know what they paid. Their rent/buy is just over 17 given the rent they are actually receiving. Crazy, I know."

I should also add that that's based off the acris price, which does not reflect concessions at all, so their ratio could be even lower than mine.

Bottoms, crickets? Shucks.

pls provide an exmple of rent/buy in the high teens from your neighborhood--certainly there are plenty of buildings in williamsburg with recent closings, where similar apts are for rent--

otherwise, keep on gassin!!

bahahahahaha

Wtushy!

Wtushy, your "girlfriend in Brooklyn", does she live in Williamsburg, maybe near Bjw?

Bottoms, here's maybe the best deal I found in Williamsburg: 72 Berry, #5B (a great building, to boot). Sold for $780k, rented for $4,900/mo. That's a ratio of just over 13 if you have trouble with the math. The gas is all yours...

Bottoms, did you run out of gas? It is getting pricey these days...

Bjw2103, that's an interesting find, but I think there are some circumstances on this particular sale which make it unique, and probably not as good a deal as it seemed at first glance. I noticed that the rental listing is for a 2BR, while the sale listing shows it as a 1BR (with home office).

I suspect those windows along the side of the building are at the lot line and will get filled in if any new construction goes up next door. That may not be a big deal for a renter who could just move if that happened, but it would obviously affect the sales price.

ord, those are definitely good points. I do know that the building next door went up already (70 Berry), but not sure about the views from this particular place. The sale was only brought up to illustrate to Bottoms that a price-to-rent ratio below 20 was indeed possible in the neighborhood. I think it's as extreme an example as you can find (the rent was a bit shocking to me, in spite of the already high rents in the area), but it sure fits the bill.

What happened to WTushy?

The high-fiving white guys!

http://www.youtube.com/watch?v=EQXqEAYHudQ

They sure are white.

hburg, he was hoisted by his own petard.

you understand that huntersburg is hfscomm1?

cc, maybe. Doesn't really matter though.

well, there is no maybe. they are one and the same.

i am surprised that you wouldn't care.

care to explain how this is ok?

huntersburg
3 minutes ago
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>columbiacounty
hey--you're off the hook. its ok.

Columbiacounty, were you miserable before you lost a ton of money or just because of it? If before, what turned you into a wretched troll? Was it no accomplishments in the past? Or no potential future to dream of?

huntersburg
4 minutes ago
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>sunday--you would do well to consider the difference between the world we live in and the world we wished we lived in.

You mean the world in which a politician stands up and starts to say that we should have a lenghy dialogue about possibly considering some mythical solution?

Bottoms, what happened? You dropped out of here pretty fast.

WTushy is probably watching some Barney videos again in his "smallish 1br in midtown east" waiting for his "girlfriend in Brooklyn" to call.