Why do people even bother?

I don't get it, please explain.

I do not know the TV/Blind person analogy. The seller bought it for $1.98mm. This is the price he/she has to sell to not incur a loss after all the fees and taxes. Good luck to him/her in this market and this location.

That's a shame.

I don't understand why bedrooms today are designed with such stingy proportions and why people accept this. The balcony here is not a set back from what it appears which is what makes a true penthouse outdoor space so valuable. It is a regular looking terrace which at this height looks positively terrifying, not inviting. This layout is somewhat serviceable, but I think the overall feel is cramped because it shouldn't be a two bedrooms--this square footage would make for a gracious 1 bedroom/1.5 bath layout.

LOL.. Why do people whine...

Do people read the Car and Boat sale pages and mock those people all day as well?????

They might if they see someone sells a 2nd hand but brand new 2008 Honda Accord for $100k.

Kylewest. This is pretty standard fare in most new construction it seems. People like new construction (don't really ask me why) even if it means a smaller space and everything built like garbage (not sure if that is the case at the Charleston). Maybe these people would normally be buying McMansions in the burbs and this is the closest thing they can get?

why do people mouth off on how OTHERS choose to spend their money?

"This is the price he/she has to sell to not incur a loss after all the fees and taxes."

When will people learn that real estate is the only asset where anybody thinks "This is the price he/she has to sell to not incur a loss after all the fees and taxes."

Who cares if the SELLER wants to "recover" his costs! If I were buying I wouldn't. Like Slee says, sell a second-hand Honda Accord for $100,000. (Actually, I made that analogy a few days ago.)

- They might if they see someone sells a 2nd hand but brand new 2008 Honda Accord for $100k.

If someone sells a 2nd hand but brand new Honda for 100k then I say more power to them and CONGRATS!!!!!

That's America!!!

"If someone sells a 2nd hand but brand new Honda for 100k then I say more power to them and CONGRATS!!!!!

That's America!!!"

Yes, sadly that IS America currently... lazy people infatuated with get rich quick schemes, smoke and mirrors and American Idol.

It has always been America.... You give it a shot and try to make a buck.....

While other people sit around and pretend to know what you are doing and waste their time telling you you're wrong without knowing the details....

Not sure who is lazier.

There's so many geniuses around here these days.....

"You give it a shot and try to make a buck...."

Giving it a shot used to mean, work your pants off, put in the sweat, labor and effort and reap the benefits by harvesting the seeds that you planted earlier.

Someone selling "a 2nd hand but brand new Honda for 100k" and hoping for the next idiot to buy it is not "giving it a shot" in my opinion. That to me sounds like a Ponzi Scheme, thank you Charles Ponzi:

http://en.wikipedia.org/wiki/Ponzi_scheme

"A Ponzi scheme is a fraudulent investment operation that involves paying abnormally high returns ("profits") to investors out of the money paid in by subsequent investors, rather than from net revenues generated by any real business. It is named after Charles Ponzi."

Charles Ponzi is not "the America" in my books.

But hey, that's just my opinion. And I'm not a genius- just another working middle class member of society.

It's called a "MARKET" for a reason.....http://en.wikipedia.org/wiki/Market

A Market does not = Ponzi Scheme - a Market should naturally work itself out....

Market
From Wikipedia, the free encyclopedia

The concept of a market is any structure that allows buyers and sellers to exchange any goods, services and information. The exchange of goods or services for money is a transaction. A market consists of all the buyers and sellers of a good who influences its price. This influence is the objective of economists and has given rise to several theories and models in economics concerning the basic market forces of supply and demand. There are two roles in markets, buyers and sellers. The definition implies that at least three actors are needed for a market to exist; at least one actor, on the one side of the market, who is aware of at least two actors on the other side whose offers can be evaluated in relation to each other. The market facilitates trade and enables the distribution and allocation of goods and services in a society. Markets allows any tradable item to be evaluated and priced. A market emerges more or less spontaneously or is constructed deliberately by human interaction in order to enable the exchange of rights (cf. ownership) of services and goods.

Also - If this guy trying to sell this place is such an idiot that is about to lose his shirt, then what is the Ponzi Scheme?????

Looks like a FREE MARKET to me - Not everyone wins and profits in a free market... There are corrections all the time.... Winners and losers.

No reason to fault people investing their money - and again, we have no idea what % of this guys money is tied up here - it could be a pennies thathe's just playing around with....

People make much stupider trades and losses in the stock MARKET every minute.

Now, to me, the STOCK MARKET is MUCH closer to a Ponzi Scheme IMO when we have no idea what these Boards of Directors, CEO's and accountants are up to.. Tommorrow they tell us they changed their accounting methods and WALLAH... your money is gone... My stepdad had most of his money invested in Worldcom since his son worked their and "Knew" how solid a company it was.... I don't see anyone losing ALL their money in NYC Real Estate, even today.

He should be retired now... Instead he works his tail off while battling cancer... Freaking GREAT!

Guy WISHES he invested in NYC real estate when we bought. He dreams about it ever night.

I'd be the last to criticize this individual. The fact that he/she was able to finance a 2MM dollar apartment probably means that they have been fairly successful in the business world. I'm not crying any tears for them and congratulate them on their success to date.

reaper, don't change the context on me. i'm talking about your post where you EXPLICITLY SAY:

"If someone sells a 2nd hand but brand new Honda for 100k then I say more power to them and CONGRATS!!!!!

That's America!!!"

AGAIN, "someone sells a 2nd hand but brand new Honda for 100k" is not what "America" should be. It's a Ponzi scheme.

This unit is under contract but for closer to the original buy price

That was un Unrealistic analogy someone posted....

Fine you're right - Everyone selling 100k used Hondas as new are opoerating Ponzi Schemes...

BOOOOH to those people ripping off unsuspecting wanna be Honda owners....

"Yes, sadly that IS America currently... lazy people infatuated with get rich quick schemes, smoke and mirrors and American Idol."

MMAfia, you forgot McMansions, SUV’s, and unhealthy, fat people that get unruly when told they can’t have ice in their drink (in Paris) while they cram their second ham and cheese croissant down their throat (true story unfortunately).

For what it's worth, I don't agree with Kylewest on the layout. Some people have families, which require more bedrooms. Further, some of these families either can't afford more space or are willing to put up with smaller bedrooms to stay in Manhattan, or some of both. In fact, in looking for apartments, I've had the exact opposite gripe - 1800 SF 2-bedrooms with a layout that can't possibly make a 3rd bedroom, or a 2300 SF 3-bedroom with no room for a 4th. That's wasted space in my book.

Different strokes for different folks is my point.

I was thinking that whoever buys this is probably going to carve out a third bedroom.

ali r.
{downtown broker}

Yeah, my heart bleeds for the family that needs to sacrifice normal bedroom sizes and decent layout in the name of having a penthouse with a balcony where the wind would probably suck their kid up and drop him on a passing bus roof if the tot ever crawled out onto it.

Funny, that occurred to me too, but it's definitely a stretch. If you need 3-bedrooms, you can get a much bigger apt for a lot less.

Disagreed on the balcony - great with a baby in a stroller, although obviously need to be careful. Agreed on the "sacrifice" though - I wasn't thinking of the price when I posed my comment on families.

Any way you look at it - tiny 3-bedroom, decent-sized 2-bedroom or very large 1-bedroom, it's still overpriced.