40 East 9th Street #10LM guess how much profit

Did the maintenance increase during that period?

I don't know that that's a compelling example. It seems as though there had been distress at least once during the sales history.

Yes. That is correct but does not make the sale invalid. Moreover, I am overestimating the Reno, which I know to be cheaper after having seen the apt before and after. No central ac for example.

I've got to say its an ugly apartment in an ugly building. But as another downtown fan I'm sure you know the relative and extreme scarcity of larger east village apartments. Some segments over perform, to simply point them out is rather facile.

Sorry, that you do not even know east village boundaries.

Whatever. Same thing goes for this address.

How long have you lived in NYC and followed real estate?

Has the "Comps Queen" lost her crown?

Here's the troll!

Hi thief!

hfscomm1

Profit, what are you talking about? Bought in Aug 2008 for $2.1M, sold in Sep 2009 for $1.67M. After transaction costs and negative carry, a 100% loss your favorite 33% down payment.

Wait, I didn't think that happened with NYC RE, which is extremely safe, but only with individual stocks which are extremely volatile.

Convenient of you to leave that fact from the sales history out, on a property you cherry-picked no less.

thx nada for reinforcing quite well my current preference for financial assets vs re (caveat: i own rntal property lp's for big complexes in UT and CO--and a dumpy house in CT)

and yes, the cherry-pickery seems a touch desperate, given the examples fail

Looks like a fair example of investment profit to me for this latest transaction. In the previous transaction, the previous owner seemed to have suffered from financial hardship and went for a fire sale.

Nada, what would have been spx return if you bought in may/june 2008 (contract date) and sold in july/August 2009?

Crappy -- down 18% Jun 30, 2008 to Aug 31, 2009 -- or down 33% May 1, 2008 to Jul 1, 2009.

Either way, though, beats the shit out of the 100% loss here 3x-levered. Hell, it didn't even under-perform the market by much.