This Week in Comments

New York /
Dec.December 12, 2008 05:07 PM

Caroling to sell condos
Carolers. How quaint. How foolish.

Desperate times call for desperate measures
What the hell? Has [Barbara Corcoran] lost her mind? She could very well ruin her expert reputation in the market by talking this crazy talk.

Developers attend Art Basel parties
I don’t develop real estate for the money; I do it to meet hot chicks.

Brokers blogging to get ahead
Shouldn’t brokers be selling to get ahead — making calls and doing something in terms of marketing? We don’t need anymore bloggers. I love to read, but I am not reading some random blog, by some random broker, or my own broker for that matter.

Cooper Square Hotel opens tomorrow
Finally! Another place I can have $18 drinks.

Hospitality industry under strain, hotels to offer rooms on the cheap

He talked about budget hotels that were outside of the center of Manhattan. They suffer because four-star hotels will become the new budget hotel.

New Jersey tries to lure Bronx wholesale market

Why does New Jersey always have to suck off of NYC? They would be nothing if not next to us. Try and bring business from other areas that would benefit the region.

Rockrose offers buy-back guarantee in LIC
1. Why do idiots still think renting is “throwing money away?” Owning has plenty of costs that are never recouped: after-tax interest expense, taxes, maintenance, cost of capital, insurance, transaction costs. People consistently underestimate these costs that drive the cost of ownership up often to a level well above that of renting.

2. The offer doesn’t make financial sense – If you’re going to sell for a 10 percent gain after five years then you’re better off renting for those five years. Your small gain will be eaten by transaction costs. Your monthly payments will be much smaller if you just rent something.


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