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Reply to "When your friends live large and you feel like a loser . . ."
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[quote=Anonymous]I know people who've done this in Manhattan -- kids of families with oil money from the Middle East. Usually it is a family investment -- i.e. the family either pays cash or hands a large enough down payment that the mortgage comes out to be pretty small and is often being covered by a monthly check from Saudi and the "kids" are responsible for the monthly maintenance (HOA). Which for a $4 million apartment in Manhattan these days has got to be a least $3-4k/month.[/quote]
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