Inside Be@Schermerhorn
[nggallery id=”24441″ template=galleryview] Although the new development technically Be@Schermerhorn Hits the Market [Brownstoner] Be@Schermerhorn Website Fleshed Out, Still No Pricing [Brownstoner]
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Although the new development technically hit the market a couple of weeks ago, Be@Schermerhorn really opened for business with last night’s preview party. Making our way past the disco ball and crudités, we were able to snap these shots of the model apartments and, even more fun, take a trip up to the under-construction roof garden. Gotta love those views.
Be@Schermerhorn Hits the Market [Brownstoner]
Be@Schermerhorn Website Fleshed Out, Still No Pricing [Brownstoner]
i tell you..any day now they will be housing mental patients..same as 1987…they have to pay off their loans, or worse abandom the building entirely..
i tell you..any day now they will be housing mental paients..same as 1987…they have to pay off their loans, or worse abandom the building entirely..
Yeah, I agree. The overall feel is sorta blah. I think some of the finishes are okay. The rooms are small but if they lower the prices then they may not have to go rental. I see it as good investment though. Buy one and rent it out until the market picks up again in another five or seven years. It’s worth the risk.
Back to the topic: the apartments are astonishingly boring. The teeny kitchen sink struck me, too. It’s looks like a bar sink! To the developers: good luck with that.
“So if a global bank can’t understand and quantify the risk then who can??”
The What?
The 1991-92 debt crisis was conventional. What we are facing here with the extent of derivatives and leverage is unprecedented and that’s why Paulson & Bernanke have to make the decisions to do what they are doing.
Just look up “credit default swap” in wikepedia and it begins to show you the complications. yesterday, deutsche bank said it was too risky to allow clients to trade these. So if a global bank can’t understand and quantify the risk then who can??
The treasury yield curve looks like this right now:
1 Yr 1.4%
2 Yr 1.6%
5 yr 2.5%
10 Yr 3.4%
30 Yr 4.0%
you can get higher yields but you take more risk. The definition of the risk free rate is Treasuries. That said, if rates rise, you lose part of your principal in the Treasuries. If you are 60 and ready to retire your investments sure as hell better look different than if you’re 30!!
You can also invest short-term and give the government your money today and get it back virtually with no interest in a few weeks. I think the short-term rate offered right now is 2 basis points. Isn’t that what they get in Japan?
Holding your money under a mattress is sounding good. 3-month treasuries are yielding an 4 basis points and I believe that’s still falling. At 4 basis points, investing $100,000 today will earn you $40 per year. And where’s DOW? Analyst predictions on CNBC today are indeed predicting the Dow will go down to 8,000.