Today's Real Estate Schadenfreude
Karl Peterson bought a whole floor on East 10th Street between C and D for $127,000 in 1995, and has a goatee. A few years ago, the New York Post reports, Peterson figured he'd buy the ground floor of the same building, make a killing on his old apartment, then go for brewskis at Zum Schneider. But no one wanted to pay the $1.195 million to which he felt he was entitled, nor $1 million. When he got an insulting offer of $850,000, Peterson decided to rent. So if you have $3,500 a month for a 2BR which is not stabilized and out of which you could be thrown whenever Peterson wills it (he plans to "check back in with the market" in a year), call his broker. Or, if you're the charitable sort, send him a sympathy card.
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