Does This Really Make Sense?

Some people simply have too much money…

A few months ago there was an article about Manhattan real estate. The majority of the prime real estate is used less than 2 months a year.

Is that again a byproduct of New York’s infamous rent control laws that allowed generations of families to hold onto properties at ridiculously low rents???

This takes the “Day iPhone, Night iPhone” game to a whole new level. Will never fly in the Bay Area. People still fussy about money, like it’s dirty or something. Imagine the uproar if people like Zuck bought multiple houses in the same city? Wait…

After finishing reading the whole article, it does make some sense. Going back to Zuck, an ideal setup would be to have a big house in places like Palo Alto, plus a small condo in the happening part of San Francisco. Or the other way around.

Of course it doesn’t make financial sense for mere mortals like me. It does score high on the fun vector though.

Is it me or does this chair look really uncomfortable?

They were talking about property ownership in Manhattan, so I don’t think it’s related to rent control. A lot of wealthy people buy property in Manhattan for investment purposes. They rarely use it.

Did it really make sense to change this from a 4 unit to a SFH??? Yeah, the master bedroom view is stunning but not sure if this project was really well thought out. Maybe it will still sell after the haircut but I am thinking it if you just remodeled the units and kept them intact or convert to condo and then put in a community roof deck that might be better marketing of the building.