Seller smoking some good sh!t!!!

Worth noting this is only 6% above their 2015 (9 year hold) cost basis.
Too bad taxes are up 77% and maintenance up 35%.

Broker says kitchen was updated, but photos in 2015 listing look the same.

10G is asking $5,250 for rent.
https://streeteasy.com/building/35-east-38-street-new_york/10g

Between CC, RET and other expenses that probably leaves about $2k per month cash flow. What does that support at today's rates? A $300k mortgage? Add $100k down payment. Seems like you break even at a $400k purchase price (and that's with zero return on the $100k invested).

Is my math right?

BTW, HTF did someone just buy 10G @$800k knowing those numbers?