You think the Northstar Club is expensive ? Check out this teensy closet in London at $4,340 per square foot. more
Want more for your big bucks than a tiny little closet? Check out this plan for a $155 million spec build at the Yellowstone Club. I’d say the potential client list for this thing is probably less than 100. more
And if you’re a Brit wondering where all the hot spots are for overseas second home investments, here’s the list you’ve been looking for. see
Reno Ignoramus
Diane,
What’s the big deal here? Ok, so this place is $4,340 a square foot.
So?
I thought that under the “new paradigm”, we don’t have to be concened with things like price per sq/ft. You know, this is like we didn’t have to be concerned with things like a stock’s p/e ratio under in the “new economy.”
This place only costs $335,000. I’m sure that if I go to a Voodoo loan witchdoctor, I can get a nothing down, I/O, neg am, teaser rate 1.2 % loan for 80% of the purchase price. Then I can get a Voodoo Supreme Special piggyback for the other 20%. I would be looking at no more than $400 a month, max. The initial monthly nut is all that matters, right.
Because surely I can flip this baby off to the next greater fool for $400,000 within 2-3 months.
That’s how the “new paradigm” in real estate works, isn’t it?