Tom and Diana: East Coast Life

Our regular readers know that we, mainly I, love to read about property in the city and the good deals and not so good deals we find and/or hear about. I have much of our future brownstone or highrise condo on the Upper West Side already decorated in my mind and really am just waiting to move... (now we just have to win that elusive lottery).

My friend Rachel, who visited over Thanksgiving, has now hopped onto this bandwagon and looks for shockingly good (or bad) deals for Tom and I in the city. Rach lives in Texas where houses are seriously a FRACTION of the cost of NY pads and these Texas homes are mansions in comparison.

Here is a great example she sent me:

Exhibit A: House #1.
This house Rachel wants is on a LAKE in Texas, about an hour from Dallas. Texas is challenged with water and this lake is actually quite nice (per Rachel).

The house was built in 2008 and not yet lived in. It is 1600 sq ft, 3 bedrooms and 2 baths and again, ON A LAKE.
The cost: $155K but Rachel is sure it will go for way less with this economy and I agree.

Exhibit B: The comparison house...well, condo, well... "micro-studio" is the actual term.
This micro-studio is in a neighborhood known as Morningside Heights--the way Upper West Side past Columbia University. A bit out of the way, but still a quick subway ride from anywhere.
I have attached the link below to the article from the NY Post (that Rachel sent me), but here are the specifics that will seriosuly make you shake your head.
-It is 175 sq ft. Again, 175 sq ft. WHAT???

-The married couple, who are the tenants claim they love it (some people will say anything to get in the news).
Their queen sized bed takes up 1/3 of the living space. Their 2 cats have it pretty good-- the couple has put up a cat tower. I wonder if the couple sits on that as well when they have company over. Wait, what am I saying?? Company? hahaha

-They keep their clothes in the kitchen cupboard, or the fridge (mini-fridge) as they claim they do not cook. Fine--lots of NY'ers don't cook--doesn't mean you don't like a cold beverage now and then.

-Their stove (read: hot-plate) gets put away each morning as the counter space is needed to feed their cats. (Ew, is anyone else grossed out by that??)

Here is the best part:
They jog to their jobs in Manhattan (gotta respect their workout routine) and they pick up their work clothes each day ON THE WAY TO WORK that are stashed at various dry cleaners along their jog route (and smartly--in case the cleaners are closed, they each keep an outfit at their office).

This article caused me anxiety. That is just crazy that a small space like that can cost $150K. Yes, this space is $150K. Is location really worth that much? Apparently.
Here is a shot of the micro-studio (as seen in the NY Post) and a link to the article.

http://www.nypost.com/p/news/local/manhattan/cozy_crazy_couple_makes_tight_studio_R15ToNFTaJE3c17zkw4efP