How to piss away $150K

poor mercer. always on the wrong side of the trade.

>columbiacounty
about 3 hours ago
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poor mercer. always on the wrong side of the trade.

columbiacounty, didn't you tell us 2 years ago that you sold all of your stocks in the first quarter of 2009? Didn't you tell us that you were forcefully retired from your firm? Weren't you out looking for a rental apartment with a window in the shower, at the interim low of your life after having to sell your apartment two years after the peak?

Back to the topic of the post, look what we have here. Can you say choppy-choppy:

http://streeteasy.com/nyc/rental/838107-rental-111-fulton-street-fultonseaport-new-york
07/06/2010 Also Listed by Synergy NYC at $10,000.
09/14/2011 Previously Listed by Synergy NYC at $13,000.
09/16/2011 Re-listed by Synergy NYC. Last priced at $9,950.
09/16/2011 Synergy NYC Listing is no longer available.
01/23/2012 Listed by Citi-Habitats at $9,950.
02/02/2012 Price decreased by 16% to $8,350.

So it is now within striking distance of my $7K estimate of market price. Adds even more doubt to maklo's claims of an $11K tenant. To recap:

- The listing has been at $10K forever, why would someone pay $11K?
- Why has the listing been up the whole time? The brokers don't keep any of their other rented listings up.
- An $11K rent is 32% higher than their current _asking_ rent.

Methinks maklo's _definitive_ information came from his broker. "Oh yeah, you picked up a great place at a great price. You know that place you were considering at 111 Fulton? Well, the broker on that told me he got $11K for it. Uh-huh, and your place is totally better. So you should totally tell your friend to stop flushing money down the toilet on rent. Tell him to call me, I'll find him a nice place. It won't be as nice as yours 'cause you da man, of course."

Is anyone going to go to the open house on this thing today?

>To recap:
- The listing has been at $10K forever, why would someone pay $11K?
- Why has the listing been up the whole time? The brokers don't keep any of their other rented listings up.
- An $11K rent is 32% higher than their current _asking_ rent.

A lot of questions to still make the definitive statement in the headline of this thread.

@bj41/nada. Yeh, she's like the Borker who lists a place and says 'price upon request'. So if you are not black, Hispanic and someone we as a seller deem desirable 'we'll tell you if you can afford it' ....

@nada. Shitty-habitats never negotiates lower...... Well at least when they are not negotiating with themselves..... When someone inquires about a listing they clench their butt cheeks and vacu pump their penises. We are firm. Firm firm.... Till it gets flaccid again.

One other thing. Open house on super bowl Sunday, definitely a sign of strength. Go big blue!

w67th, here's my favorite quote from maklo1421 made 3 days before the drop from $10K to $8350:

"Your speculative sense lost credibility with a market rental assessment ($7k per month) where the actual rent was more than 50% higher. Textbook case of confirmation bias man."

My speculative sense lost credibility? I'd say my rental assesment was on-target: it is now just a 15% bid away from the current ask. Meanwhile, maklo's $11K fantasy would involve someone coming in and making a 32% above-ask bid.

Somehow, I don't think maklo will be responding any more to this thread...

If you count the outdoor space at 50%, this place is now _asking_ $3 ppsf. I am guessing 300_mercer will all of a sudden have a lot of poo-pooing to say about it now that it's no longer a $10-11K rental. Hell, I bet he'll claim it's probably a fake listing now.

The country will literally piss away over $10 billion in beer today, so what's a measly $150K!?

Touche.

>My speculative sense lost credibility? I'd say my rental assesment was on-target: it is now just a 15% bid away from the current ask. Meanwhile, maklo's $11K fantasy would involve someone coming in and making a 32% above-ask bid.

Your claim was that it didn't rent at all and therefore the entire value of the rent over the entire period was "pissed away". You seem to have conveniently forgotten that initial claim and now only focus on the price differential.

>Hell, I bet he'll claim it's probably a fake listing now.

Like the first alternative rental you listed on this site, http://streeteasy.com/nyc/rental/833472-rental-83-mercer-street-soho-new-york, which has fuzzy photos and doesn't appear as a listing on the broker's own site?

$10 b. divided by 300mm. Carry the one... Hmmmmm

$150k in beer ( let's be generous... A family of 4). The young one better pull its weight in diapers.

My supposition was that it didn't rent given it remained listed at what I perceived to be an above-market rent at $10K. Maklo claimed it was rented at $11K but was very thin with details. It is now listed at $8350. So either:

- Maklo's claim of an $11K market rent is suspect. E.g., the real story is that the $11K rent is BS from an unreliable source and the real rent was $8K, it was for a 3-month corporate deal, it was the owner's cousin living there for free, etc.

- Maklo's claim of this place renting at the market rent of $11K is bona fide, the brokers kept this listing up to bait clients (even though they do not seem to do that with other listings), and inonada was wrong about the listing sitting for being overpriced. However, given the current asking rent compared to that bona fide $11K rent from last year, it seems the rental market has dropped to the tune of 30% over the past year.

So which will it be?

I like choice B where one rental is extrapolated to a point of view on the whole rental market?

I see, you want to go with choice C:

- The apt rented for $11K last year because maklo said so, the $10K asking price and everything else be damned. That was the market price, inonada was wrong for calling it overpriced. Its market price is still $11K, the $8350 asking price be damned. It is just a single data point, an underpriced outlier, not representative of the market. You know inonada, he always likes to take outliers and make a fuss. I bet this place has gremlins hiding underneath the floorboards.

Let's call that the 300_mercer defense.

Only problem is that this isn't some outlier that inonada searched high-and-low for. This is some listing he called overpriced & gave a market price on, maklo defended the pricing with an $11K claim, and 3 days later we see it come down to within striking distance of inonada's estimate.

Perhaps the claim is that inonada has special magic abilities. Not only can he find outlier underpriced apts, but the gods speak to him as well to tell him when to post about an apt that is going to get cut to be an outlier underpriced apt.

i want to hear about pent-ho's cherry penthouse--if she can get past her lil hissy fit

Right choice C, the Gods speak to you. Now its all coming together for me.

Wbottom -- here's what I can gather from a quick search.

Murray Hill, coop, postwar, penthouse, 3000 sq ft, wrap terrace, fireplace, washer/dryer, bought in 2000. In her own words, an A++ apt in a B building; location is not so charming, almost didn't buy because of it, but has come to like it over the years and couldn't imagine living in a lesser apt in a better location.

I'd guess it's on E 41st St given her login name.

The original broker has also chopped to $8350, lest there be any question as to the authenticity of the brokers / chop:

http://streeteasy.com/nyc/rental/668328-condo-111-fulton-st-fultonseaport-new-york
07/06/2010 Listed by Synergy NYC at $10,000.
08/13/2011 Listing is no longer available.
09/14/2011 Previously Listed by Synergy NYC at $13,000.
09/16/2011 Re-listed by Synergy NYC.
09/16/2011 Price increased by 30% to $13,000.
09/16/2011 Synergy NYC Listing is no longer available.
10/12/2011 Price decreased by 8% to $12,000.
12/02/2011 Price decreased by 17% to $10,000.
12/29/2011 Price decreased by 5% to $9,500.
01/03/2012 Price increased by 5% to $9,999.
01/13/2012 Price decreased by 0% to $9,950.
01/23/2012 Also Listed by Citi-Habitats at $9,950.
02/07/2012 Price decreased by 16% to $8,350.

the clock is ticking on this fine purchase that "you can always just rent"

not sure what you did to get pent-ho's dander afluffled--me, i likley deserve some hissy pointed my way (might even enjoy it)--you, seems you dont typically care to get so personal

whatever...there's the rent/buy discussion--but here, a buy/hope-to-rent fail is not really arguable

frustrates our pent-ho? she, who apparently has a preference for best-apt-in-bldg, poorly located real estate (works for a home-body (shutin), i guess)--a preference over watches, sailboats, whatever---we all get it

Inonada: I will make sure to contact you when I sell my apartment - I will need a good rent option and you will be my go to guy.....

Yeah, I don't know why ph41 likes to go all agro on me every once in a while. I have my theories, but whatever. I respond to her in a civil manner and try to have civil discourse. Sometimes it works, sometimes it doesn't as happened here -- "I won't communicate with you privately about private details I'm asking you about, and I won't tell you that same info about myself and will make you search for it -- hah!"

From the sounds of it, she lives in some apt with a current value in the ballpark of $3M. Now I generally find it poor form when people talk down to others upon the basis of lesser material possessions. However when spinny did it from his sub-$1M apt w/ his "Frigidaire Farmer" line, it was quaint & funny because both he & I knew I was living in at least an equally-nice, if not much-nicer, place. With ph41, I think she is goading under a belief that she is living in a much-nicer place than me.

Weird...

1000 psf sounds about right for a ph in a b building/crappy murray hill location--could be less if mntnce is high, which isnt so uncommon in murray hill-- where are located many buildings coop'ed in the early mid-80's, when marty raines and others saddled up coops with ridiculously high underlying mortgages

pent-ho's purchase priority was penthouse, and that she flaunts such here, speaks of self-image issues---that's why "pent-ho"

and, like i said, i am a self-professed ahole often--and so deserve some hissy--strange pent-ho has dialed in on you--it aint you

back to the issue--i kinda like "buy/rent fail"---expensive lil booboo this one

I will respond thank you very much.

We need to level-set here because you keep trying to obfuscate and take attention away from the original point made. Thankfully, this stuff is on permanently on record so I'd encourage everybody (who cares) to clearly read Inonada's original post.

I'll summarize your original point. Your conclusion that the owner had "piseds away $150k" rests on two main points:

1) This property has been empty for the past two years
2) The rent during that period should have been $7k per month and that's how you calculate the $150k "loss"

My response was
1) The apartment has not been empty. You are absolutely wrong here and this is verifiable independently.
2) The actual rent for this was "a shade under $11k" ($10,750 to be exact). So you were 40%+ off here. I know this as a fact but appreciate that it is hard to verify. So you can believe me or not. That the place is now asking $8,350/mo. does not change what it actually rented out for.

The context was historical rents. Now you want to change the discussion to the current market rate that's really just an attempt to change the argument. Rents go up and down it is a fact of life. As much as you'd like to convince people otherwise, that has nothing to do with your original "point" that the owner had pissed $150k away in the last two years.

>- Maklo's claim of an $11K market rent is suspect. E.g., the real story is that the $11K rent is BS from an unreliable source and the real rent was $8K, it was for a 3-month corporate deal, it was the owner's cousin living there for free, etc.

My thoughts EXACTLY!

Macklowe, old school real estate shill tactics are dead in this Streeteasy technological age.
I suggest telling uncle Harry or Billy to adjust, or shill property in ...I don't know...Zimbabwe? Computers are still lacking there.

the sun rises in the west, you can believe me or not.

Your west or mine?

maklo, your point #1 is sufficient. Even if the $7K rent is correct, the owner didn't piss away $150K if the apartment was occupied for a great portion of the two year period during which inododo said it was unoccupied and not earning rental income of any sort.

Oh my goodness - living in a full service, doorman/concierge building in MURRAY HILL!!! THE HORROR, THE HORROR!!!

beats brooklyn.

And LIC. Definitely beats billyburg. Maybe even Munsey park manhasset.... But not 5th Ave 75th PH. Nope ppl like bj41 better take the service elevator.

Hey columbiacounty, have you spent the day hitting refresh so that you could post a comment within the same minute as ph41 posted?

but when she travels, she says manhattan.

everyone assumes CPW, the village, Tribecca, Museum Mile, Park Avenue

she doesn't correct them.

King shit 35 foot Beneteau owner.... My fking three speed harken winch is more expensive than most POS 35 footers....

But here is the difference, I know a one speed winch on a 100 footer is more expensive than my entire boat...

Yes you live in Murray hill where all the rich 20 something mistresses of Russian oil barons begs their sugar daddy to live. Flmaozz.

What is there in Murray hill on east 41st? You got phoenix garden. A mcD, that nice Dunkin donuts and that ragged path mark ...go u. Don't walk around anytime near 4 to 7, one large parking lot. Do that shimmy dance to cut across the street. Cabs whipping by at 70mph down 2nd to catch all the lights to make it to LIC..... Great hood.

I had a guy look me straight in my eye and invite me to 'his' J105 for a sail......

3 months later find out he's the 'owner's' boat cleaner. Funny thing, I would have respected him more if he'd been straight up with me. He knows how to sail, I'm not impressed with 'ownership' especially if it is prepaid rent ownership. Tell me you got no mortgage. Now that's impressive.

The crybaby stinkape.
Having an interpersonal dispute on inonada's thread.

Oh, boo-hoo. The Fith Ave. ladies were not nice to him, the poor son of immigrants.

Boo-hoo.

Sure beats living in Columbia County.

It's sadder to want to be king of manhattan bc you bought bf the bubble took off than sitting on a pile of cash cause you sold out at top.

I'd rather be the king of Peoria with a mountain of cash than a prepaid renter at bubble prices any day. But I like financial freedom.

penthouse lady: hasn't truth renounced her newyorkersness?

Boo-hoo, crybabystinkape.
Go wipe cc's sorry ass.

Let's review:
w67th: supported by his parents.
cc: broke and broken in columbia county.

Two losers in life. Anywhere they live.

and your source?

what rhymes with asshole?

maklo came back -- respect.

I find it interesting that now you tell us the rent down to the last penny. I wonder what other details you know.

So let me get your story straight. "Inonada sees this place listed this whole time at $10K, which combined with an incorrect assumption of a $7K market rent, leads him to believe the place was empty. He was wrong: it was rented at $10,750.00 for some unspecified period under some unspecified terms. He was stupid to have assumed the place empty -- who cares about an apt left listed by brokers who seem not to engage in baiting tactics, and the assumption that it was overpriced is just plain wrong. The $10,750.00 was the true market price (but that's all I'll tell you)."

OK, but you know where that leaves you? Claiming that the rental market has crashed 25% (or more depending on where this gets rented).

>find it interesting that now you tell us the rent down to the last penny. I wonder what other details you know.

Wait a minute. Before you were suspicious of him because you claimed he didn't know the details. Now you are suspicious of him because he might know more details?

First, there are bevy of reasons why the rent could have changed, not limited solely to the market crashing 25%.

- Could be that the local market has performed worse
- Could be that it was rented in the summer last time and now it is the winter and there is no demand
- Could be the owner lost money on the stock market and is desperate
- Maybe the broker is trying to attract more bids
- Hell could very well be that the $10,750 rent was too high and the owner got lucky last time

I don't know and I don't care b/c it's all besides the point.

Were you "stupid" to assume the place was empty for two years? You said it not me. I'd say more arrogance than stupidity. You put yourself in that position by taking your limited data set as gospel, not leaving open the possibility that just because the data wasn't recorded on StreetEasy that something else did not happen, drawing a biased conclusion and then proclaiming it in a fairly condescending manner. You do that enough times, at some point you are going pick property listing that someone actually knows the truth and can call BS.

The point is one should see the vagina and not get lost in the pubic forest.

Easy credit creates bubbles. Income supports rental rates. Nyc's income was driven significantly by the churning of aforementioned bubble. No bubble, no churning, no income -> $150k in lost rental is the least of RE long position holders in nyc.

F
L
M
A
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I can do it upside down if you'd like Mack.

I'm the one making condescending and arrogant statements? Funny, here are your words:

"Your speculative sense lost credibility with a market rental assessment ($7k per month) where the actual rent was more than 50% higher."

It must suck to have the $8K ask out in the open and no longer be able to hide behind the "it rented at $11K, higher than ask with a continued listing, but I cannot tell you how/why/when" spiel. Or am I reading too much into the asking price again? Should I go see the place & place an offer & almost sign a lease just to make sure it is really rentable at $7-8K, not $11K?

Face it, my assesment of market rent was on-target for this place despite the large distance from its $10K ask. And 3 days after you called my assessment crap, transparent info out there for all to see confirmed it.

Team Inonada, because he is logical and his sources are transparent.
Come on Maklo, if you want to be taken seriously, you have to explain: 1. where your info is coming from 2. how an apartment listed at 10K for a year was actually rented for more than ask all the while.
You can't expect people to believe you if what you proffer goes against common sense and you offer no backing for you assertions.

Inododo's assessment of through rental price may on fact be on target. But the headline supposition on this thread is not. The statement that the apartment sat vacant is claimed to be untrue as well.

Would be more credible if inododo took w67's position and said look at the big picture. But he wants us to be distracted from his errors by attacking the other guy.

Why does maklo have to explain where his info is coming from any more than anyone else has to reveal private details?

So this place, called properly-priced by me but poo-pooed by 300_mercer earlier on this thread, went from first listing to signed & board-approved lease in 26 days:

http://streeteasy.com/nyc/rental/835532-condo-111-wooster-street-soho-new-york

Meanwhile, this 111 Fulton listing has sat for at least 5 undisputed months. Yet 300_mercer made no criticism of it. Calling it 2725 sq ft for consideration of outdoor space at 50%, 300_mercer did not consider it overpriced at $4.8 ppsf ($13K), $4.0 ppsf ($11K), or $3.7 ppsf ($10K). Now seems like it'll go for either $2.9 ppsf ($8K) to $2.6 ppsf ($7K). I wonder if we'll start seeing poo-pooing all of a sudden now.

I enjoy watching inododo blame everyone else for their errors but fail to acknowledge his glaring and persistent mistakes and misstatement. Finally inododo is showing he's human, whether he likes it or not.

how does one's "speculative sense (lose) credibility"?

Look I've said this multiple times, you can believe me or not on what the actual rent was. Doesn't change a thing. Fact is, you can go independently verify whether the place was empty for two years as Inonada had boldly claimed, or you can be a lazy lemming and ignore it. Up to you.

I spoke to the dude.. Inonada is correct. It was empty for 2 years.

me too. just got back. its confirmed. place was empty.

I found the tenant and confirmed he was there for 2 years.
http://dfwbugs.com/yahoo_site_admin/assets/images/1cricket.56182647.jpg

He wanted to stay a couple months until spring but the lack of sunlight confused him and spent 2 full years waiting for the season that never came.

It was the Citi Habitats agent, the one that was actually trying to lease the apartment that saved him.

Crap, it's 2 vs. 2 now. How is a person to know any more?

In any case, this all reminded me of a thread from 2011 where maklo was claiming that the market rent on his $2M place is $10-14K. I thought he was out of his mind, gave all sorts of examples to the contrary all over the city. He claimed large apts in Fidi were different, I guess I now see what he was using as data points: $11K for a place like this.

More news from the land-of-300_Mercer-poo-pooing. Nicely-renovated top 2 floors of a stately townhouse on arguably the most gorgeous street in the Village. 2000 sq ft (2 floors of a 18x64 building => 2300 sq ft) for $7500, $3.75 ppsf. Thankfully, it's only 49.67% below first ask, not 50%.

http://streeteasy.com/nyc/rental/770106-rental-30-west-10th-street-greenwich-village-new-york
06/03/2011 Listed by Corcoran at $14,900.
07/21/2011 Price decreased by 7% to $13,900.
09/01/2011 Listing is no longer available.
09/09/2011 Re-listed by Corcoran.
09/09/2011 Price decreased by 10% to $12,500.
11/01/2011 Listing is no longer available.
11/08/2011 Price decreased by 12% to $11,000.
01/25/2012 Re-listed by Corcoran.
01/25/2012 Price decreased by 27% to $8,000.
02/09/2012 Listing rented.
RENTED FOR $7,500
-6.25% less than last listed price of $8,000

Wow, is that what happens on apts with near-market asking rents? They go from listing to signed lease in a mere 15 days, and you can still negotiate?

I would fathom it sat empty for ~6 months, but I'm afraid maklo might yell it me. Who knows, maybe there were getting $16K for it this whole time.

truthskr: That was funny.

Can you find one of "tumbleweeds"?

nobody wants to play with you.

you're disgusting.

>
w67thstreet
about 5 hours ago
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I spoke to the dude.. Inonada is correct. It was empty for 2 years.

columbiacounty
about 4 hours ago
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me too. just got back. its confirmed. place was empty.

Hey columbiacounty, how does it feel to always being second or less throughout life?

>More news from the land-of-300_Mercer-poo-pooing. Nicely-renovated top 2 floors of a stately townhouse on arguably the most gorgeous street in the Village. 2000 sq ft (2 floors of a 18x64 building => 2300 sq ft) for $7500, $3.75 ppsf. Thankfully, it's only 49.67% below first ask, not 50%.

http://streeteasy.com/nyc/rental/770106-rental-30-west-10th-street-greenwich-village-new-york

Excellent location.
But it's a 4th and 5th floor walkup, which limits the renters. No one with kids or soon to be expecting kids is moving there.
No doorman or ammenities. Take out your own trash or leave it outside of your door a couple times a week for the porter.
7500*1.15 = $8600/month effective rent (that's with the amortization you like to focus on).
Top floor has a low ceiling.
Also, the north side buildings on the block have 3 windows per floor, but the south side buildings only 2.
How much should one pay for a 4th and 5th floor walkup?

Hi gang... Nice to see all the familiar faces keeping up the good fight. I'm almost 3yrs into my 09 purchase and cringe at the thought of the rent I would have pissed away waiting for a better opportunity. I don't have nadas gnads but I suppose an argument can be made that I could have done better had I given him my dp, but I wouldn't have slept. Many predicted that I would be well underwater by now. Could it be the same force field protecting my investment also has a vested interest in NY real estate?

Good to see you back!

Welcome the hell back, spinny. Hang out, stay a while.

Now I know I'm trying to make a lion out of a lamb, but trust me you would have slept fine. You bought in May 2009, right? Here's what your total returns would have been every month if you simply put your money in the S&P and sat back:

Apr-09 0%
May-09 6%
Jun-09 6%
Jul-09 14%
Aug-09 18%
Sep-09 22%
Oct-09 20%
Nov-09 27%
Dec-09 30%
Jan-10 25%
Feb-10 29%
Mar-10 36%
Apr-10 38%
May-10 27%
Jun-10 21%
Jul-10 29%
Aug-10 23%
Sep-10 34%
Oct-10 39%
Nov-10 39%
Dec-10 48%
Jan-11 52%
Feb-11 57%
Mar-11 57%
Apr-11 62%
May-11 60%
Jun-11 57%
Jul-11 54%
Aug-11 46%
Sep-11 35%
Oct-11 50%
Nov-11 50%
Dec-11 51%
Jan-12 58%
Feb-12 62%

Now in which month exactly would you have lost sleep?

Granted, you did time the market in 2009 very nicely, but here we are 3 years later and the SE index is up a mere 4% from the 2009 bottom. Not enough to cover inflation, barely enough to cover the negative carry. You took big risk and have come up basically flat. Had you taken the risk in any other way, you'd have been up big-time -- without a single month of your investment being in the red.

Now that's the type of thing that should keep you up at night.

"without a single month of your investment being in the red"

Wait, I take it back. Had you invested at the close on May 1st, there wouldn't have even been a _moment_ where your investment was in the red.

In my case with rent as part of the equation it would have halved the effective s&p return. Yes I pay mortgage interest, yes I pay maintenance, yes I assumed some risk, yes yes to all that. But I am still in a much better position.

hey skinny whatzzzz UP? Dude the donut busted on the afterguy and the force of it smaking into the spinny pole popped the line loose.... almost lost a chute. Thank goodness we had the A team on the foredeck. Couple of rope burns from the chute flying up the port side... but no one got seriously hurt.

Glad you are in a much better position..... BUT I TOO AM in a much better position having rented the last 3 years.... hmmmmmmmmmm

I wonder if there really exists a NYC FORCE FIELD.... well let me don my helmet and get in my X-wing fighter... I shall use my force to destroy the power source.... who shall join the good(rebel) side?

What percent down did you put, and what do you think the rent would have been for your place per $1M purchased in 2009?

This guy here bought for $2.1M in 2009, with maklo trying to claim a market rent of $10,750 -- $5K per million. Their asking price is now less that $4K per million.

Nada, I never commented on what the rent should be 111 Fulton. I merely commented that you can NOT assume that the place was empty as the listing during late 2010 and early 2011 was likely stale. In addition, I have no reason to doubt what Maklo is saying. Personally, I would not buy at 111 fulton unless I thought that the areas is going to improve significantly - for the same reason I would not buy in Jersey City.

Nada, Did not see you response to this.

"111 wooster: a couple of notes
- "This home is in the rear of the building making it pin drop quiet" in Soho, you would not get much light, forget the sun as buildings are the back are not that far apart.
- 1.5 baths only, big discout for 2000 sq ft for missing full bath
- "1 year lease"

30 west 10th: where is the deal? Already $4 for a walk-up even if you believe the sq footage.

call it poo-pooing but well deserved."

>Now in which month exactly would you have lost sleep?

Maybe he would have lost sleep during the couple of flash crashes we had in 2010? Maybe he would have lost sleep during the market rout we had in 2011.

spin: Glad to hear all is well.
Now you're sleeping like a doormouse.

By the time I find that u-tube clip I saw on Anderson Cooper last night,15 people on here will find it sooner.

"Nada, I never commented on what the rent should be 111 Fulton."

Of course you didn't, brother.

When maklo made a claim of $11K against my $7K, did you call maklo nuts? Nope. Did you find incredulity in the absolute number? Nope. Did you question the higher-than-ask claim? Nope. Did you ask about the source / circumstance surrounding the claim? Nope.

Did you say we should all believe maklo? Yep. Did you imply that NADA is clueless about the rental market? Yep.

If you thought my $7K was accurate, then why did you stand by and watch and say nothing but encouragement against me? Why dear brother, why?

dear brother?

This thread reminds me of the time Inonada claimed a non-empty apartment was empty for two years, got called out and hoped that people would forget.

maklo, you are a complete shill and have zero credibility but carry on. tumbleweeds.....

"This thread reminds me of the time Inonada claimed a non-empty apartment was empty for two years, got called out and hoped that people would forget."

If I wanted this thread to be forgotten, don't you think I'd stop posting to it? Nope, I want this thread to be immortalized as the place where maklo1421 in all seriousness claimed an $11K rent on a $2.1M apt, calling inonada's $7K call incredulous, only to be followed 3 days later by a drop to $8K on the listing.

this thread to be immortalized as the place where maklo1421 in all seriousness claimed an $11K rent on a $2.1M apt, calling inonada's $7K call incredulous, only to be followed 3 days later by a drop to $8K on the listing as well as a place where inododo claimed that a non-empty apartment was empty for two years which it seems to not have been at all.

Ladies & gentlemen, the saga comes to a close. The apt has been rented. It is no longer listed on the Citi brokers' site, nor is it listed on the Synergy brokers' site (you know, the ones that some here theorized are in the practice of leaving listings up to fish for clients):

http://streeteasy.com/nyc/rental/668328-condo-111-fulton-st-fultonseaport-new-york
07/06/2010 Listed by Synergy NYC at $10,000.
08/13/2011 Listing is no longer available.
09/14/2011 Also Listed by Synergy NYC at $13,000.
09/16/2011 Re-listed by Synergy NYC.
09/16/2011 Price increased by 30% to $13,000.
09/16/2011 Synergy NYC Listing is no longer available.
10/12/2011 Price decreased by 8% to $12,000.
12/02/2011 Price decreased by 17% to $10,000.
12/29/2011 Price decreased by 5% to $9,500.
01/03/2012 Price increased by 5% to $9,999.
01/13/2012 Price decreased by 0% to $9,950.
01/23/2012 Also Listed by Citi-Habitats at $9,950.
02/07/2012 Price decreased by 16% to $8,350.
02/11/2012 Citi-Habitats Listing is no longer available. Last priced at $8,350.
03/06/2012 Listing is no longer available.

In case there is any doubt as to whether this is some sort of data glitch, click over to Synergy listing where they proudly stamp a bold red "RENTED" over the picture:

http://www.synergynyc.com/index.cfm?page=details&id=1754

Please join me in congratulating the new tenants. Mazel tov!

>If I wanted this thread to be forgotten, don't you think I'd stop posting to it? Nope, I want this thread to be immortalized as the place where maklo1421 in all seriousness claimed an $11K rent on a $2.1M apt, calling inonada's $7K call incredulous, only to be followed 3 days later by a drop to $8K on the listing

Shazam!

how to piss away 2 million dollars......

buy it for $4.3mm when you could rent it for 10k a month
http://streeteasy.com/nyc/sale/641477-condo-20-pine-street-financial-district-new-york

rent
http://streeteasy.com/nyc/rental/852012-condo-20-pine-street-financial-district-new-york

amazing listing. Rockefeller's own office?
I would rent it just to piss on his floor.
what a deal.

You're wrong, truthskr10. Maklo knows for a fact someone is renting that place at $20K.

A buyer cannot lose here no matter the rent / price. "Taking a bath from where David Rockefeller ruled? Priceless."

So maklo kbew about 1 place that you didn't, and you want to discredit that?

knew

$4.3M to $10K has to be the most out-of-whack buy/rent ratio out there.

Well in all fairness maly, that $4.3M ask is highly aspirational given that it sold for $2.9M in 2009. Assuming it tracked the SE index, it'd be $3M or so vs. $10K. Definitely a good price-to-rent, but hardly the most out-of-whack.

No outdoor space units are selling for $1,400/sf in this building now. Putting zero value on the 1,000 sf terrace, this place is worth around $3 million. Assuming you put 20% down, you are sitting on a 3x gain on your principal here. Put a reasonable value on the outdoor space and you are closer to a 4x.

Really? That doesn't seem to be the case for the current in contract pricing. Do you own here?

Sooty, I was a bit wrong. Pricing seems to be all over the place. But a sale of $1400 psf seems hardly guaranteed.

Plus, the rent/buy still seems to suck for most units.

>Plus, the rent/buy still seems to suck for most units.

When you determine that the rent/buy "sucks", did you look historically, measure the price changes over that period of time, and factor that in to the rent/buy? Just to make it easy for you, the price change doesn't apply to the rental, only the ownership side of the equation.

That's an idiotic statement. Stick with what you're good at, baseless accusations and trolling.

Aboutready, this is Thanksgiving but you seem angry. Maybe try a nice bath.