But that same family of rats has been poking out of that particular mousehole for 100s of years. One family. No other rat in the world can claim that. It's quite an apartment. And quite a rat. You know, George Washington's head lice slept there.
So the owner spent $30 million according to the vid at the bubble height in 2007 and then a few million to renov & furnish. Vid claims worth between $45 & 55 million today. @45 the rate of return on the rental investment is about 4.4% or 3.6% @55 minus, of course, what I imagine must be some steep maintenance fees, taxes** and insurance.
Were I to rent out the property I recently purchased, I'd be getting 11.4% before expenses. And still the other guy is doing financially at least 55 million times better. Life is both hard and unfair.
Meanwhile, I'm not real convinced that's a rat. It doesn't show up at all on the small screen and when enlarged I was unable to capture a pic of it.http://www.theatlanticwire.com/business/2011/12/most-expensive-rental-new-york-city-costs-165000-month/45926/The place belongs to Esprit founder Jurgen Friedrich, according to the New York Post. He bought it for $25 million in 2007 but couldn't resell for
$55 million, so he put it up for rent
**A $50 million residental property in Florida would be taxed at about $950k/year. Could a New York owner explain the following from the Manhattan Property Tax office on this $55 million dollar home...http://nycprop.nyc.gov/nycproperty/statements/mvh/jsp/stmtassessmvh.jsp?statementId=168254042Market Value History
Tax Year Market Value
Taxable/Billable Assessed Value
SUBJECT TO ADJUSTMENTS, YOUR 2011/12 TAXES WILL BE BASED ON 570,075