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Old 07-15-2019, 07:06 AM
 
Location: New York City
8,277 posts, read 6,301,645 times
Reputation: 6087

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The place will probably sell as some sort of party house or AirBnB novelty
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Old 07-15-2019, 07:13 AM
 
Location: NY
3,895 posts, read 993,624 times
Reputation: 2261
Quote:
Originally Posted by SeventhFloor View Post
Would you want a guideline on the amount of profit that you made if you were to sell your home? I think not.
Opinion:
Listen.I get it.
As long as its them and not me is the attitude of many realtor investors today.
Some still honor their respected positions but the rest are nothing more than car salesmen.
As a former property owner investor I have been there done that the old fashioned way.
Purchased. Invested. Lived in it. Sold it. That's the way it was done.
All that has changed.
Now its purchase,paint it, dump it ask for double the price in 6 months.
That's symbolizes a free market/ economy out of control.
Flippers today are no different than a greedy bar tender watering down more and more of his bottles
and passing it on to his patrons after they had a few drinks just for a quicker and larger profit.
If you are thinking of living in New York City today and don't own a home you better be pulling in at
least $100,000 a year. 10 years ago you could make it on $50,000 a year. Sadly..................no more.
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Old 07-15-2019, 07:25 AM
 
Location: Manhattan
21,506 posts, read 28,411,258 times
Reputation: 9763
Now its purchase,paint it, dump it ask for double the price in 6 months.
That's symbolizes a free market/ economy out of control.


That symbolizes galloping asset inflation.


<And no Mathjak, I don't want to argue the point again.>
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Old 07-15-2019, 09:44 AM
 
1,736 posts, read 621,943 times
Reputation: 1828
Quote:
Originally Posted by Mr.Retired View Post
Opinion:
Listen.I get it.
As long as its them and not me is the attitude of many realtor investors today.
Some still honor their respected positions but the rest are nothing more than car salesmen.
As a former property owner investor I have been there done that the old fashioned way.
Purchased. Invested. Lived in it. Sold it. That's the way it was done.
All that has changed.
Now its purchase,paint it, dump it ask for double the price in 6 months.
That's symbolizes a free market/ economy out of control.
Flippers today are no different than a greedy bar tender watering down more and more of his bottles
and passing it on to his patrons after they had a few drinks just for a quicker and larger profit.
If you are thinking of living in New York City today and don't own a home you better be pulling in at
least $100,000 a year. 10 years ago you could make it on $50,000 a year. Sadly..................no more.

Except that this guy has owned the islands for 15 years, clearly meant to develop them from the scratch for his own and family use, put some quality groundwork into developing an infrastructure (he bought the islands in such a condition that he might as well have bought them for $24 worth of seashells from Lenape Indians in the early 1500s - and now the islands have all the hookups for safe modern living and for a boat access, because he laboriously built all of that), and didn't even get to build a house on his dream island. Something has clearly influenced his plans, and he has to sell. This situation is as far from dumping or flipping as humanly possible. The price of $13M looks pretty normal to me for habitable private islands near Manhattan.


I certainly could not afford (and would not need, for my particular lifestyle) a $13M private island, but I don't see people who engage in selling and buying private islands as crooks. The price of this private island has no bearing on prices of condos in Parkchester, the Bronx, where any nursing aide or delivery bus driver can mortgage a small condo, assuming they can demonstrate an ability to obtain and hold low-level jobs.



Certain people in NYC have lived on handouts for so long that they no longer have any concept of things actually having a price, and how the price is formulated. Things that are as scarce, and as exclusive, and as hard to develop as a private island near Manhattan are going to be expensive for all those reasons. Of course, if the assumption is that everything has to be given free as a gift, than any price of anything seems too high. But who can donate all the free housing if there are no people that actually do something of consequence (such as develop desert islands), and therefore can earn money used to build and maintain the "free" housing too? The amount that the NYCHA dwellers need, and will get from the taxes on the sale of a $13M island, is conveniently overlooked when protesting against the property that "the rich" buy or sell.
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Old 07-15-2019, 09:47 AM
 
Location: New York City
8,277 posts, read 6,301,645 times
Reputation: 6087
I think it's funny that the article says he put solar panels and as a small footnote afterthought has "two 50kW generators" ahahaha. Umm basically those generators supply almost ALL the electricity they need. That few solar panels is going to produce jack in electricity
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Old 07-16-2019, 01:02 PM
 
Location: Confines of the 101 Precinct
19,635 posts, read 34,735,533 times
Reputation: 8409
Quote:
Originally Posted by elnrgby View Post
Except that this guy has owned the islands for 15 years, clearly meant to develop them from the scratch for his own and family use, put some quality groundwork into developing an infrastructure (he bought the islands in such a condition that he might as well have bought them for $24 worth of seashells from Lenape Indians in the early 1500s - and now the islands have all the hookups for safe modern living and for a boat access, because he laboriously built all of that), and didn't even get to build a house on his dream island. Something has clearly influenced his plans, and he has to sell. This situation is as far from dumping or flipping as humanly possible. The price of $13M looks pretty normal to me for habitable private islands near Manhattan.


I certainly could not afford (and would not need, for my particular lifestyle) a $13M private island, but I don't see people who engage in selling and buying private islands as crooks. The price of this private island has no bearing on prices of condos in Parkchester, the Bronx, where any nursing aide or delivery bus driver can mortgage a small condo, assuming they can demonstrate an ability to obtain and hold low-level jobs.



Certain people in NYC have lived on handouts for so long that they no longer have any concept of things actually having a price, and how the price is formulated. Things that are as scarce, and as exclusive, and as hard to develop as a private island near Manhattan are going to be expensive for all those reasons. Of course, if the assumption is that everything has to be given free as a gift, than any price of anything seems too high. But who can donate all the free housing if there are no people that actually do something of consequence (such as develop desert islands), and therefore can earn money used to build and maintain the "free" housing too? The amount that the NYCHA dwellers need, and will get from the taxes on the sale of a $13M island, is conveniently overlooked when protesting against the property that "the rich" buy or sell.
If I had the money I would seriously entertain the thought of buying, no joke. And get my boating license.
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Old 07-17-2019, 08:08 PM
 
6,773 posts, read 6,563,731 times
Reputation: 5066
doesn't seem very practical.

I always thought it would be cool to live on Governor's Island. it has some neat houses
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Old Yesterday, 06:41 AM
 
Location: Staten Island, NY
8,749 posts, read 7,122,619 times
Reputation: 8242
Quote:
Originally Posted by SeventhFloor View Post
If I had the money I would seriously entertain the thought of buying, no joke. And get my boating license.
You can get your boating certificate online for free. I have mine for my jetski. You should do it regardless just in case:

https://www.boatus.org/newyork/?gcli...SAAEgKMBfD_BwE
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Old Yesterday, 05:09 PM
 
Location: Confines of the 101 Precinct
19,635 posts, read 34,735,533 times
Reputation: 8409
Quote:
Originally Posted by Airborneguy View Post
You can get your boating certificate online for free. I have mine for my jetski. You should do it regardless just in case:

https://www.boatus.org/newyork/?gcli...SAAEgKMBfD_BwE
Saved. Thanks fellow MoD
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Old Yesterday, 05:55 PM
 
Location: Staten Island, NY
8,749 posts, read 7,122,619 times
Reputation: 8242
Quote:
Originally Posted by SeventhFloor View Post
Saved. Thanks fellow MoD
Anytime. Hunting license next.
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