When you hear about the outrageous cost of living in New York City, you need to take into account that some living spaces, whether rented or sold, are outliers that drag the average up. A spacious apartment in a historic building on the Upper East Side of Manhattan can be so high that it can be hard to find a buyer. An opportunity to buy such a place doesn't come often, because anyone who can afford the location is loathe to give it up. But a co-op on 66th Street has been on the market for months at $6,500,000.
That exorbitant price is less than what it was assessed at for taxes in 2018. And you might be able to talk the owner down some more, because it's Rudy Guiliani, and he needs cash to pay his lawyers. Still, there are red flags in the listing that might give you pause. The mortgage would be quite high, and the HOA fees are a staggering $10,719 per month. That's doable for the mayor of the city, but probably not for you. Next, take a look at the images in the listing. There's a disclaimer that says, "Please note that some images have been digitally staged." That explains how some furniture seems strangely mismatched in size with the room shown. And then there's the floor plan. The apartment covers a corner of the building, ensuring that the views are magnificent. One wing is all service rooms, built for a staff that provides meals. Now imagine yourself in the master bedroom late at night, and you want a snack. You'll have to negotiate your way through the entire floor plan to get to the kitchen. That's the dealbreaker for me. -via Fark
(Images: Sotheby's International)