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Real Estate
Reply to "Buying a pied-a-terre in NYC…good or bad idea?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]How often would you use it?[/quote] OP here. I’d use it probably 1-2 times per month. With hotel prices as they are, paying a monthly condo fee would come out to less than what I’d pay in hotel rates. [/quote] What are you spending on hotels where you would come out ahead by buying? Unless you find some crazy low-fee building (in which case I would worry about reserves and special assessments) for 1-2 night a month the math doesn't math. [/quote] OP here. Not 1-2 nights per month. I meant 1-2 times per month. A visit to NYC for me can range from 2-3 days to 1-2 weeks depending on what I have going on. And the cheapest NYC hotels these days range in $400-$500 per night. [/quote] Then it may make sense for you - just make sure you keep track of when you are there so NYC can't come after you for taxes (there are apps that help you keep track). [/quote]
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