Sunday, October 26, 2014

Truly A Gilded Age

New York City is a special place. You can pay tens of millions for an apartment but still have to pay for such 'amenities' as a storage space ($75,000 for a 35-square-foot storage space), wine cellars (more than $100 a bottle), a maid's room (almost $3,000,000), and an underground parking spot for $1 million. In most of these cases you are licensing the amenity, not buying it. The license is for 100 years, but terminates if you sell your apartment.

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