Reply to Buying a pied-a-terre in NYC…good or bad idea?

Forum Index » Real Estate

Reply to "Buying a pied-a-terre in NYC…good or bad idea?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]I am considering buying a place like this when I retire. If you assume 7% opportunity cost of not investing the $500K plus the maintenance, it works out to about $4,200 a month- that is likely more than I would spend on a hotel but because I owned I would use it more and enjoy it.

https://streeteasy.com/building/440-east-79-street-new_york/1i?utm_campaign=sale_listing&utm_medium=share&utm_source=web&lstt=qWUxx0kslaaBalMFucP39OB5D_ppY3WiuNzs6yc0NKU3zq-pPjU1n946tZYl-pROO95w0ySrtcv6FcLn[/quote]

It's not a bad deal for one person living or a couple's pied-a-terre.   It costs a bit over 1K a month if you can sink 500K upfront and you won't miss it.   It's a convertible 1 bedr that used to be a studio, you could try to find a studio for less and then do the conversion yourself if you desire to do this later.  In the meanwhile you could just use a studio since it's not any worse than a junior suite at a hotel which would cost you a ton.

The only question would be whether you need space for guests, like older kids visiting once in a while or going with you if you have this situation.  Or if your kid may want to use it to live with a roommate if they end up going to college or working there. [/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics