Rental of the Day: 162 Dean Street
This four-bedroom triplex rental at 162 Dean Street is looking pretty good to us! We love the three wood burning fireplaces, the windows, and the addition of the deck and garden. Renting it will set you back $10,000 a month, which isn’t cheap (it’s more than $3,000 per floor) but it also isn’t the most…
This four-bedroom triplex rental at 162 Dean Street is looking pretty good to us! We love the three wood burning fireplaces, the windows, and the addition of the deck and garden. Renting it will set you back $10,000 a month, which isn’t cheap (it’s more than $3,000 per floor) but it also isn’t the most expensive we’ve seen for a brownstone rental around this size. Do you think it could get close to ask? It’s been hanging out on the market for more than 70 days.
162 Dean Street [Douglas Elliman] GMAP P*Shark
Gay bars have traditionally called Sunday afternoons “tea dance,” Pigeon. You learn something new on brownstoner every day!!!!
The ones at Roscoe’s in Chicago with $8.00 pitchers of Long Island Ice tea were particularly dangerous!!!!!
I misunderstood you, wasder. I thought you meant how could your monthly nut be $1,706/mo, not a similar rental. But $1,706/mo is not really the number you would compare to as I have alluded to above.
Opportunity cost is just earning a lower rate of return in one investment than you could have otherwise earned in another. 5% vs 10%, respectively for argument sake. Cost is -5%.
You probably learned it in Econ 101 but forgot.
***Bid half off peak comps***
Really, BHO, you think it’s worth having money earn less than 2%!!!!!
BWWAHAHAHAHAHAHA
Not only do you not know real estate but you don’t know about investing, interest rates and real interest rates!!!!!
Dibs, what’s the “tea dance on Sunday”?
“If you’re only thinking about money, wouldn’t you be better off if you stayed in the Manhattan condo?”
No, not only money…quality of life is much higher and, as I’ve said, I’m not really “out” money, just giving back some gains!!!!
Besides, the Manhattan condo would have come down more in value and I’d still have a much higher monthly nut than I have now.
No, Ringo. He’d be better off had he kept the aftertax gains and rented. How much more than $1,706/mo would he have to pay for a triplex in Stuy Heights? Say double. Would still have $200 grand by now sittin’ pretty, now earning effective interest due to deflation. Yeah, renting is cheaper.
***Bid half off peak comps***
BHO, I don’t really give a damn. I bought the Manhattan place for $165k and sold it for over $700k. If I lose $100k+/- and I’m far happier in the big brownstone with the deck and the yard it’s worth it.
If you’re going to nickel and dime your life away and be an angry, unhappy crumudgeon then that’s your right.
“If you put $540K down you could, wasder.”
What do you mean? I am saying that because of the rental income I receive I pay less for my two floors plus yard than I would for a straight up two bedroom. I don’t understand what you are saying about 540 down.
As somebody who has never invested in the stock market (or in anything other than this house) it is hard to wrap my head around the concept of opportunity costs.