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6 Castles That Cost Less Than An Apartment In NYC

Tyler Durden's picture




 

With Russian, Chinese, and Argentinian (with a record low in the blue dollar today) money washing ashore (in USD or Bitcoin) under the Status of Liberty, the 'prices' of upscale apartments in New York City have simply exploded. We thought some context for this apparent 'price' vs 'value' discrepancy was useful... presenting 6 castles that cost less than an apartment in NYC (and given the number of bedrooms, not to mention moats, dungeons, vineyards, ramparts and drawbridges - dramatically less in terms of per-capita spend).

 

 

 

 

 

Via imgur

 

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Tue, 01/07/2014 - 15:50 | 4308996 Luckhasit
Luckhasit's picture

So, since there we have capital controls in place, I take it foreigners are buying these with cash?

Tue, 01/07/2014 - 16:01 | 4309024 hedgeless_horseman
hedgeless_horseman's picture

 

 

Texas has no state income tax, and you can carry a concealed firearm to protect yourself.

This recently built "castle" is a 30 minute commute from Exxon's new headquarters.

This huge 11,863 sq. ft. home has it all. 5/6 bedrooms, 5 full baths, 4
half, 14 car garage, and located on 2.43 +/- acres golf lot. Simply
Stunning!

 

$1,500,000

Tue, 01/07/2014 - 16:02 | 4309055 Pladizow
Pladizow's picture

Well, bubbles are transparent!

Tue, 01/07/2014 - 16:13 | 4309096 hedgeless_horseman
hedgeless_horseman's picture

 

 

Compare kitchens and view of $1,500,000 in Texas with $1,650,000 in NY.

Tue, 01/07/2014 - 16:22 | 4309124 disabledvet
disabledvet's picture

it's sad when your Castle comes with 40 acres instead of 40 servants. Ah, the Glory Days http://www.youtube.com/watch?v=P5-IoEcolp8

Tue, 01/07/2014 - 16:48 | 4309215 kaiserhoff
kaiserhoff's picture

Best ZH piece since the mansion/crack house display from Vancouver.

LMAO

Tue, 01/07/2014 - 16:57 | 4309253 giggler321
giggler321's picture

Umm are they renting?  Thinking of moving, 18th babe on the way, income support from those + rent benifit might just stretch

Tue, 01/07/2014 - 17:38 | 4309400 negative rates
negative rates's picture

It's only a joke if you buy it.

Tue, 01/07/2014 - 18:45 | 4309554 Harbanger
Harbanger's picture

Why are these landmark Castles in France worth less than a condo in NYC?  Something to think about.

Tue, 01/07/2014 - 18:49 | 4309563 negative rates
negative rates's picture

They used to house gold there, until they traded the gold for kerosene to light and heat the castle. Once the money ran out and everyone moved on, the place became an empty dwelling that is now decayed away and has a value less than a heated apt in NYC.

Tue, 01/07/2014 - 19:08 | 4309586 Harbanger
Harbanger's picture

AS I PASS through my incarnations in every age and race,
I make my proper prostrations to the Gods of the Market Place.
Peering through reverent fingers I watch them flourish and fall,
And the Gods of the Copybook Headings, I notice, outlast them all. -Kipling

Tue, 01/07/2014 - 20:28 | 4309827 Jack Napier
Jack Napier's picture

3rd generation born and raised in the good ol' USA.

That being said, fuck NYC.

Wed, 01/08/2014 - 04:57 | 4310798 Occident Mortal
Occident Mortal's picture

People claiming that taxes and upkeep are the reason for the divide have a point but it's negligible really.

 

There are maybe a couple of thousand castles in France, there are how many condo's in New York? 2 million?

 

Also there are two kinds of rich people, there are people with high incomes and then there are people with a lot of wealth. The two groups are indistinguishable in the mainstream media. But in reality they are two very different groups. 

 

The wealthy can live wherever the hell they like. Whereas folk with high incomes must live near their work.

 

 

Tue, 01/07/2014 - 22:23 | 4310141 Spumoni
Spumoni's picture

"Think, in this batter'd caravanserai

whose portals are alternate night and day,

how sultan after sultan with his pomp

abode his destin'd hour and went his way...

 

...When I was young I did eagerly frequent

Doctor and Saint, and heard great argument

about it and about, but evermore

went out the same door as in I went!"

-Omar Khayyam

 

+1000 Harbanger! 

Wed, 01/08/2014 - 04:06 | 4310767 Harbanger
Harbanger's picture

Thank you for reminding me.

Wed, 01/08/2014 - 02:39 | 4310717 A Nanny Moose
A Nanny Moose's picture

Lots of open space...expensive to heat. Compartmentalize, then rent?

Wed, 01/08/2014 - 05:56 | 4310821 Dr. Everett V. Scott
Dr. Everett V. Scott's picture

Get with 7 – 8 friends, buy a castle as a co-op.  

 

Cheap vacations in France.  Bring your friends!  Everyone will have fantastic stories to tell, and you will be a big shot HE-RO back in Sheboygan!

Tue, 01/07/2014 - 22:55 | 4310231 Pizza man
Pizza man's picture

Come on people. Note that all are located in F R A N C E !  Thanks to Msr Hollande the cost to carry makes NYC seem like a bargain. And let's talk about upkeep. I could reno one of these NYC joints alone. A decrepid castle?I'd take an army.

Tue, 01/07/2014 - 18:02 | 4309461 max2205
max2205's picture

Walk to work is great but.....

Tue, 01/07/2014 - 16:28 | 4309140 MarsInScorpio
MarsInScorpio's picture

I'll take the castle . . .

 

This article really brings into focus just how inflated prices for US real estate are now. NYC prices are insane.

-30-

 

Tue, 01/07/2014 - 19:41 | 4309685 Buckaroo Banzai
Buckaroo Banzai's picture

Insane? But that's where they print the money!

Wed, 01/08/2014 - 03:37 | 4310759 Pseudonymous
Pseudonymous's picture

That's exactly what makes living there so insane.

Tue, 01/07/2014 - 17:02 | 4309274 rpboxster
rpboxster's picture

I hate cooktops on islands!  Obviously this kitchen wasn't built for entertaining.  You can't have sushi models laying on the island while the chef is prepping the next appetizer.  Re-do.

Tue, 01/07/2014 - 17:56 | 4309445 Doña K
Doña K's picture

Kitchens in suburban houses are too big for chefs. They are mostly for show. You need to be able to reach everything within one step in a specific sequence. Fridge - prep counter - wash - counter - reach for pots and pans - range/oven - plating counter - serve. Try that in a big kitchen, you'll be calling for pizza delivery most times.

Kitchens in NYC are in the other extreme + these apartments are fire hazards.

Tue, 01/07/2014 - 21:48 | 4310035 toady
toady's picture

Thank you!

I don't know how many times I've said that!

Everything in my kitchen is two steps. When I attempt to do any major cooking I end up feeling like I walked ten miles.

Plus, the family always thinks they can stand around or sneek past me. Someone is gonna get burned or cut eventually.

Wed, 01/08/2014 - 02:17 | 4310696 bigkahuna
bigkahuna's picture

LOL! Ya gotta tell 'em - "stay outta my kitchen while I'm cookin'!"

Wed, 01/08/2014 - 02:44 | 4310721 A Nanny Moose
A Nanny Moose's picture

Bingo. Restaurants serve hundreds in <half the cook space of most oversized household kitchens. I blame the well endowed Ciabatta DeLaurentis and HGTV.

Tue, 01/07/2014 - 16:10 | 4309081 Agent P
Agent P's picture

Man, imagine how much stuff you could store in a 14 car garage. 

Tue, 01/07/2014 - 16:34 | 4309155 hedgeless_horseman
hedgeless_horseman's picture

 

 

A guy could run a pretty good ebay motors business with a 14 car garage.  Maybe specialize in a particular model.

Tue, 01/07/2014 - 17:21 | 4309346 HoofHearted
HoofHearted's picture

Kyle Bass could store all his nickels in a 14 car garage!

And some of you bitchez around here could just about squeeze your gun collection into that kind of garage. Me...I lost my firearms collection in that canoe accident that took out my gold and silver stash.

Tue, 01/07/2014 - 20:31 | 4309834 Midas
Midas's picture

I like the prospects in Texas, but I am surprised at how high the property tax rates are.  Housing in DFW is about 35 % less than where I live, but the property tax rates are about 140% higher.  I can pay off the house, but not the property tax.

Tue, 01/07/2014 - 22:04 | 4310086 BeagleOne
BeagleOne's picture

That's what you get for living in a non sales tax state.

Tue, 01/07/2014 - 16:34 | 4309161 U4 eee aaa
U4 eee aaa's picture

and then the subsequent garage sales!

Tue, 01/07/2014 - 16:38 | 4309178 oddjob
oddjob's picture

As the agent would say....room to grow.

Tue, 01/07/2014 - 18:51 | 4309567 samcontrol
samcontrol's picture

that house in Texas in Awesome for the price.

the author is not taking into account how much taxes you have to pay for these castles...been there done that...you are talking 10% MINIMUM yearly.

who wants to pay 150k a year in taxes for a castle?
For My 300k house in Argentina i pay $100 YEARLY.

did you hear DOCHEN????

Tue, 01/07/2014 - 23:52 | 4310412 johnconnor
johnconnor's picture

However in Texas they rape you with property Taxes of 2.5% or higher ...

Wed, 01/08/2014 - 10:26 | 4311248 XitSam
XitSam's picture

Please stop pretending that texas is a gun rights state. It isn't. You can't open carry a pistol. Open carry should be the default, not prohibited.

And that example, as well as the 6, are more appropriately called palaces, not castles.

Tue, 01/07/2014 - 20:56 | 4309895 Zero_Sum
Zero_Sum's picture

Note that the castles for sale were in France. The subtext here is what happens to property values when they fall within the jurisdiction of a politician who has made it his mission to redistribute wealth... so New York City real estate owners have nothing to fear, right?

Tue, 01/07/2014 - 15:50 | 4308997 Peter Pan
Peter Pan's picture

There are probably some truly depressed suburbs or towns in the USA that you can pick up for less than the cost of a NYC apartment.

Tue, 01/07/2014 - 15:53 | 4309014 Sudden Debt
Sudden Debt's picture

true and in spain you could buy a entire village with 120 houses voor 2 million. but what are you going to do with them when nobody lives there?

Tue, 01/07/2014 - 16:28 | 4309137 disabledvet
disabledvet's picture

"taking otherwise beautiful land and turning into something God awful." yeah.."the euro"...that's the answer, right up there with all the other "paper tigers." now excuse me while i finally liberate Ireland...

Tue, 01/07/2014 - 18:33 | 4309537 RafterManFMJ
RafterManFMJ's picture

I'm VERY interested Sudden Debt, but only if I get the tax and revenue stream from the village? Perhaps they could grow crops for me as well...and fight for me when I call my banners?

Tue, 01/07/2014 - 19:19 | 4309620 Jafo
Jafo's picture

If those villages came with tennured serfs that would sound like a very good proposition.  Feudalism may return to southern Europe and pre-positioning on a village or two may be a sound strategy for those who aspire to (lesser) nobility.

Tue, 01/07/2014 - 15:51 | 4308999 augustusgloop
augustusgloop's picture

Why not a castle: 

1. Taxes 2. Upkeep

Tue, 01/07/2014 - 15:55 | 4309025 silverserfer
silverserfer's picture

ever try to heat one of those suckers. Open fireplace doesnt exactly cut it. You have to burn two acres a month just to keep it 62 degrees. 

Tue, 01/07/2014 - 16:35 | 4309166 U4 eee aaa
U4 eee aaa's picture

Why not just burn peasants? Isn't that how they used to heat these things?

Tue, 01/07/2014 - 18:23 | 4309506 unrulian
unrulian's picture

Ahh serfs and peasants..the good old days, they paid way less tax than we do now

Sarc/off

Tue, 01/07/2014 - 18:29 | 4309532 Temporalist
Temporalist's picture

Yes but when you have a moat you're safe from Zombie hordes...until there are too many zombies in your moat...and then you can call the zombie removal squad at your local zombie pest control.

Tue, 01/07/2014 - 22:27 | 4310157 Spumoni
Spumoni's picture

Willya just leave the peasants alone? Geez, man-burn a bankster instead! THAT"S the smell of money...;)

Tue, 01/07/2014 - 16:36 | 4309169 U4 eee aaa
U4 eee aaa's picture

We have a solution for that silver.....space heaters! LOL!

Tue, 01/07/2014 - 17:28 | 4309374 ThisIsBob
Tue, 01/07/2014 - 18:08 | 4309475 ATM
ATM's picture

Chips? Naw, we've all moved on to pelletized wood.

 

Tue, 01/07/2014 - 15:51 | 4309002 Sudden Debt
Sudden Debt's picture

easy there.
I've seen castles sell for 1 euro but in the contract it states that you need to renovate it for millions and that's like a bottomless pit.
Plus you don't fully own them.

Tue, 01/07/2014 - 15:52 | 4309007 Duke of Earl
Duke of Earl's picture

Yeah, I saw this and immediately thought Too Good To Be True....

Tue, 01/07/2014 - 15:54 | 4309018 Peter Pan
Peter Pan's picture

Plus it could be haunted. LOL.

Tue, 01/07/2014 - 16:11 | 4309085 Duke of Earl
Duke of Earl's picture

I would pay more for haunted.

Tue, 01/07/2014 - 16:38 | 4309179 U4 eee aaa
U4 eee aaa's picture

yep, then you could open it up to tourists

Put those spooks to work! Just think, no benefits and they work for free!

Isn't that just like humanity to find a way to subject the spirit world to manual labor

Tue, 01/07/2014 - 16:12 | 4309092 Sudden Debt
Sudden Debt's picture

yeah, the nakes playboy bunnies ghosts of the 70's...
their bush will scare the shit out anybody...

Tue, 01/07/2014 - 16:37 | 4309174 Overfed
Overfed's picture

Does anybody anywhere actually OWN their land?

Tue, 01/07/2014 - 17:10 | 4309294 Ulterior
Ulterior's picture

I do, I feel special

Tue, 01/07/2014 - 18:22 | 4309511 unrulian
unrulian's picture

stop paying your land tax and see how long you own it

Tue, 01/07/2014 - 18:57 | 4309576 samcontrol
samcontrol's picture

I actually own land that's not even mine...Argentina for ya..
do Chen?

Tue, 01/07/2014 - 16:29 | 4309004 Pasadena Phil
Pasadena Phil's picture

It's not about relative value between one property over another. It's the fact that the world is so awash in dirty American dollars that the American money laundering business is inflating prices in the unregulated real estate industry. It is easier and less expensive to launder $100 million in one Manhattan co-op that in 20 chateaux on the Loire.

Tue, 01/07/2014 - 15:51 | 4309005 Tinky
Tinky's picture

Yes, but the substantial cost of importing a top-class Dominatrix with whom to "interact" in the dungeon pushes the advantage back to the NY apartment.

Tue, 01/07/2014 - 15:57 | 4309037 Big Corked Boots
Big Corked Boots's picture

Agreed - leather clad, busty, tatted dominatrices in stilettoed thigh-highs are a dime a dozen in Brooklyn.

Tue, 01/07/2014 - 15:52 | 4309006 Big Corked Boots
Big Corked Boots's picture

Can I exchange my Bitcoin hoarde for a castle? No? Well, Bed-Stuy here I come, bitchez.

Tue, 01/07/2014 - 16:26 | 4309134 teslaberry
teslaberry's picture

there are some pricey ass brownstones in much of bedstuy these days. you'd be surprised!. i wouldn't stop at franklin if you are look for cheap, go towards uttica. 

Tue, 01/07/2014 - 15:53 | 4309011 TeamDepends
TeamDepends's picture

Wow.......  We wouldn't cross the street to live in the commie-zone that is NYC.

Tue, 01/07/2014 - 15:54 | 4309021 FieldingMellish
FieldingMellish's picture

With a 75% top tax rate coming, chateaus will be a dime a dozen soon.

Tue, 01/07/2014 - 15:57 | 4309034 silverserfer
silverserfer's picture

yes all castles wil be tourist destinations.

BTW we already have a REAL 75% tax rate here in USAA if you really add up all the hidden taxes we pay.

Tue, 01/07/2014 - 22:31 | 4310168 Spumoni
Spumoni's picture

Yessir, you got fried shrimp, boiled shrimp, shrimp etoufee, steamed shrimp, shrimp fricasee...

Shrimp recipes are the secret key to the tax code.

Tue, 01/07/2014 - 15:54 | 4309023 DollarMenu
DollarMenu's picture

Yeah but all those castles are in France for cri-yi.

 

Tue, 01/07/2014 - 15:56 | 4309033 The Count
The Count's picture

Yeah, living in Gotham City is worth that kind of money, right? No thanks. I would take any of those castles over an apt. in New York, London, Shanghai etc in a heartbeat.

Tue, 01/07/2014 - 16:33 | 4309156 MarsInScorpio
MarsInScorpio's picture

As NYC gets to remember why they threw David Dinkins out twenty years ago, your statement about NYC will be even more true.

-30-

Tue, 01/07/2014 - 18:24 | 4309519 unrulian
unrulian's picture

where's the joker when you need him?

....oh wait i forgot... Washington

Tue, 01/07/2014 - 15:57 | 4309035 tickhound
tickhound's picture

Location location location... The rent is never too damn high for the privilege of scalping on Wall Street.

Tue, 01/07/2014 - 15:59 | 4309045 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Do the castles come with peasants?

It would be less fun otherwise.

Tue, 01/07/2014 - 16:07 | 4309071 LawsofPhysics
LawsofPhysics's picture

Once the supply lines break in earnest, they sure as hell will.

I remain long sharecropping, numerous physical assets, and a dependable tribe (peasant or otherwise)...

 

Tue, 01/07/2014 - 16:10 | 4309080 krispkritter
krispkritter's picture

Serf's up!  'It's good to be the King.'

Tue, 01/07/2014 - 16:04 | 4309061 HUGE_Gamma
HUGE_Gamma's picture

for USD 2m you can buy a "real" castle in South Florida.. also no state or city income tax.

 

 

Tue, 01/07/2014 - 16:27 | 4309136 DLux
DLux's picture

A castle with a proper castle doctrine...

Tue, 01/07/2014 - 16:16 | 4309064 Dr. Engali
Dr. Engali's picture

No thanks to either one. Castles have their own set of problems as money pits, and I don't want to "live" like fodder in the shithole called New York city. For a fraction of the cost I have a  2,500 square foot home with plenty of property to hunt at my leisure, and I can take a piss where ever I please. 

Tue, 01/07/2014 - 16:42 | 4309187 U4 eee aaa
U4 eee aaa's picture

...until the EPA spy drones spot you

Tue, 01/07/2014 - 17:06 | 4309282 Dr. Engali
Dr. Engali's picture

Well you do have that to worry about.

Tue, 01/07/2014 - 17:58 | 4309452 kaiserhoff
kaiserhoff's picture

Pissing in the woods, any direction you damn well please, is one the great, under rated pleasures on this sorry planet.  Oddly enough, chicks never see it that way;)

Tue, 01/07/2014 - 18:12 | 4309488 Harbanger
Harbanger's picture

Peeing while standing is the last remnant of manhood we all share.

Tue, 01/07/2014 - 22:33 | 4310172 Spumoni
Spumoni's picture

Yeah, well, don't try that shit on a yacht in a heaving sea...unless you like selfie-showers, of course!

Tue, 01/07/2014 - 18:05 | 4309470 Harbanger
Harbanger's picture

"EPA spy drones"  Let's call them environmental monitors.

Wed, 01/08/2014 - 02:47 | 4310722 A Nanny Moose
A Nanny Moose's picture

How about a 1K sq ft home with an extra 1500 sq ft of hunting/gardening space?

Does my math work out here?

Tue, 01/07/2014 - 16:15 | 4309066 firstdivision
firstdivision's picture

I want the first one so I can start my own private jail.

One has to take into consideration that these 'castles' are located in what is the US equivlent of a Fly-Over state, hence their cheap prices. 

Tue, 01/07/2014 - 16:16 | 4309105 kralizec
kralizec's picture

Let me know if you take appliocations for an executioner...I only charge by the head.

Tue, 01/07/2014 - 16:20 | 4309121 Dr. Engali
Dr. Engali's picture

I prefer not to pay for my head. I like getting it for free. Although being married I guess you could say I'm paying for it for the rest of my life.

Tue, 01/07/2014 - 18:23 | 4309513 Harbanger
Harbanger's picture

Doc, If your wife is still going to town on you then you're ahead of the game.  It's much worse to have to pay and then pay again.

Tue, 01/07/2014 - 16:17 | 4309107 Agent P
Agent P's picture

With only 6 bedrooms (still trying to figure out how that's possible) you won't make very good margins...though I suppose you could charge admission for the public executions. 

Tue, 01/07/2014 - 16:54 | 4309238 firstdivision
firstdivision's picture

Yes, and also could fit a fair amount per room as standing room only, though those socialist bastards might have a problem with that.

Tue, 01/07/2014 - 22:36 | 4310179 Spumoni
Spumoni's picture

Are you kidding? The French LOVE a good beheading! So do the English! You'll have to build a new wing and get festival permits.

Tue, 01/07/2014 - 16:37 | 4309173 MarsInScorpio
MarsInScorpio's picture

When the really big crash comes, you'll be glad to live far from the hungry, entitlement-starved hordes from the inner-city.

-30-

Tue, 01/07/2014 - 16:12 | 4309090 pragmatic hobo
pragmatic hobo's picture

according to efficinet market theory ... price is always right.

Wed, 01/08/2014 - 02:49 | 4310726 A Nanny Moose
A Nanny Moose's picture

This presumes an equally unfettered market. Never happened, and will likely not happen in our lifetimes.

Is arbitrage among States, all that remains?

Tue, 01/07/2014 - 16:19 | 4309115 Son of Captain Nemo
Son of Captain Nemo's picture

Just ask yourselves why these residences in Austria and France went vacant?

I'm certain Monsieur Hollande will find ways to make you squeal with taxes you will be paying on top of that "buy of the Century"...

Wed, 01/08/2014 - 02:50 | 4310732 A Nanny Moose
A Nanny Moose's picture

Just ask yourselves why these residences in Austria and France went vacant?

Inability of participants, to file the proper government paperwork to qualify for "green" energy tax credits.

Tue, 01/07/2014 - 16:19 | 4309116 Jannn
Jannn's picture

China's FX Research Center: Gold Is The Strategy

 

http://www.ingoldwetrust.ch/chinas-fx-research-center-gold-strategy

Tue, 01/07/2014 - 16:29 | 4309141 steelhead23
steelhead23's picture

Oh heck, let's buy the first one, rustle up the old Monty Python crew, speak English with a strong french accent and piss from the parapets at the first tax collector to come calling.

BTW - my tastes run far more toward the muff-baring 70s bunnies playing musical bedrooms than stilletto heeled dominatrix's in the dungeon, but to each their own.  Reading this piece I simply could not get goofy images of Peter Sellers out of my mind.  Clearly, today's playboy set has lost its way - chrome and glass, no matter how sparkly, simply does not compare to cold hard stone when it comes to impressing the ladies.  Hef. 

Tue, 01/07/2014 - 16:30 | 4309143 shepherd
shepherd's picture

Why not have both?

Tue, 01/07/2014 - 16:31 | 4309147 Peter Pan
Peter Pan's picture

A castle is not a castle unless it has a moat and a drawbridge.

The castles in the pictures therefore fail my buying criteria.

Wed, 01/08/2014 - 06:10 | 4310830 Analyse2
Analyse2's picture

@Peter Pan

What about this one? too many bed-rooms ?

http://www.survoldefrance.fr/affichage2.php?img=29603&departement=Loir-e...

Tue, 01/07/2014 - 16:33 | 4309154 falak pema
falak pema's picture

lol, man and his madness; the fire economy just shows it up.

Play on land of fiat $

Tue, 01/07/2014 - 16:34 | 4309160 teslaberry
teslaberry's picture

forget castles, where iz the jobz? 

Tue, 01/07/2014 - 16:34 | 4309163 JustObserving
JustObserving's picture

But the Fed really likes New York and sends hundreds of billions of dollars a year to the priviliged of New York City.  That is why real estate in NYC costs 20 times more than in flyover country.

Tue, 01/07/2014 - 16:45 | 4309202 The Proletariat
The Proletariat's picture

New Yowk City prices are nothing.  Signed, Zimbabwe

Tue, 01/07/2014 - 16:48 | 4309210 Yen Cross
Yen Cross's picture

  Example #4 states that it's a 5 bedroom 1,331 sq. ft. townhouse in the Bronx. How in the hell do you fit 5 bedrooms into 1,331 sq.ft.?

  Was it originally built for a family of midgets?

Tue, 01/07/2014 - 17:15 | 4309322 Things that go bump
Things that go bump's picture

At lease 2 of those alleged bedrooms are actually closets.

Tue, 01/07/2014 - 22:38 | 4310185 Spumoni
Spumoni's picture

Honduran migrants. Besides, in NYC, a small walk-in closet qualifies as a bedroom. 

Tue, 01/07/2014 - 16:58 | 4309258 majorleagueinfidel
majorleagueinfidel's picture

if this wasnt in socialist france id think different about it. just goes to show that you dont get shit for your money in nyc though. nothing new either

Tue, 01/07/2014 - 17:01 | 4309267 Boondocker
Boondocker's picture

if you dump a million in to modernize they can be made warm and cozy.....worked as a sou-chef years ago in one for a "family"....biggest collection of dysfunctional people I have ever met.....until I joined the military.

Tue, 01/07/2014 - 17:15 | 4309317 superflex
superflex's picture

Too bad all the castles are in socialist hellholes.

Oops, so are the apartments.

Carry on.

Tue, 01/07/2014 - 17:16 | 4309327 Silverhog
Silverhog's picture

Bars on the windows in Bronx. Unheard of. Zombies won't steal stuff. 

Tue, 01/07/2014 - 17:35 | 4309380 Q-Q-Q
Q-Q-Q's picture

The fruit of QE doesn't fall far from the tree.

 

All property close to financial centres is screaming up in value because the banksters are the only beneficiaries of the QE. Like suckling pigs they need to be close to the sow for regular feed. The Fed Mummy pig has sore nipples but wants to fatten her piglets.

Tue, 01/07/2014 - 18:20 | 4309505 ATM
ATM's picture

Then how do you explain Wash DC area? http://www.washingtonpost.com/wp-srv/special/local/highest-income-counties/

Perhaps the financial centers are merely the decoys for the real beneficiaries of QE - the bureaucrats.

Tue, 01/07/2014 - 17:40 | 4309402 Quantum Nucleonics
Quantum Nucleonics's picture

It should be noted that the sticker price of the castles far understate their cost.  They are located in places with VERY HIGH property taxes (yes, even compared to New York)  Maintenance is a constant, and massive expense.  Most of these structures are historically significant, so you'll probably need approval from a historical commission (by hiring a team of historians and architects) before you do anything more than change a light bulb.  And the landscaping... just plan on bringing in the entire population of some town in Mexico.

Tue, 01/07/2014 - 17:49 | 4309427 Spungo
Spungo's picture

lol France. I guess that millionaire tax didn't cause the capital flight everyone was talking about.

Tue, 01/07/2014 - 18:03 | 4309465 Evil Bugeyes
Evil Bugeyes's picture

Do the castles come with rats like the NY apartments? You've got to consider food costs too.

Tue, 01/07/2014 - 18:23 | 4309514 robertocarlos
robertocarlos's picture

How do you attend a Rangers game if you live in god damn France? USA!USA!

Tue, 01/07/2014 - 18:32 | 4309535 Analyse2
Analyse2's picture

A nice dream for the average ...

Tue, 01/07/2014 - 18:38 | 4309546 10mm
10mm's picture

Fuck NY

Tue, 01/07/2014 - 18:45 | 4309555 Bunga Bunga
Bunga Bunga's picture

But in NY you might get a chance to spot the Squid.

Tue, 01/07/2014 - 19:13 | 4309603 forwardho
forwardho's picture

Concrete Shithole

Tue, 01/07/2014 - 18:47 | 4309557 GCT
GCT's picture

The smart money is buying South of  the equator.

Tue, 01/07/2014 - 19:03 | 4309583 pupdog1
pupdog1's picture

You'd think them rich frogs would be snappin' up them joints with 45 bathrooms.

Oh, wait--there are no rich frogs.

Tue, 01/07/2014 - 19:31 | 4309658 Musashi Miyamoto
Musashi Miyamoto's picture

I'm looking at some properties in Detroit... If you buy at auction you might be pleasantly surprised. If you can handle the neighborhood...

https://pathofmusashi.wordpress.com/2014/01/07/winter-shoes/

Tue, 01/07/2014 - 21:02 | 4309909 migra
migra's picture

And pay 8000 per year in property taxes. Thats the rubb

Tue, 01/07/2014 - 22:05 | 4310094 Musashi Miyamoto
Musashi Miyamoto's picture

Ouch. let me look into that. I looked at the assessment records for some couple random homes. That sounds pretty steep

Tue, 01/07/2014 - 22:42 | 4310193 optimator
optimator's picture

Plus whatever the unpaid back taxes amount to.

Wed, 01/08/2014 - 09:12 | 4311027 Analyse2
Analyse2's picture

But I really prefer this one, property of Duc de Blacas, which inspired Walt Disney Cinderella Castle :

http://www.youtube.com/watch?v=800pApDNEKI&list=PL415C460A77AC6A50&index=2

 

 

Tue, 01/07/2014 - 21:01 | 4309907 migra
migra's picture

I remember in the 90s when williamsburg was a ghetto. Nobody in there right mind would go there for any thing. Now the fools line up to spend millions in billyburg, and greenpoint with its massive toxic waste spill that was never cleaned up, ie netown creek. And Bed Stuy still to this day is a black ghetto and the prices are in the millions..... A fool and his money shall soon part

Tue, 01/07/2014 - 21:25 | 4309976 BGO
BGO's picture

Costs about $5k/day to operate one of those castles.

Tue, 01/07/2014 - 21:32 | 4309992 Q-Q-Q
Q-Q-Q's picture

ATM - Then how do you explain Wash DC area? http://www.washingtonpost.com/wp-srv/special/local/highest-income-counties/

 

Fair point I forgot politicians but then again banksters/politicians, same agenda.......all hanging off the Fed nipples.

Tue, 01/07/2014 - 22:46 | 4310201 optimator
optimator's picture

Sell the last one.  Buy the second one, move it stone by stone to the Crown Hights lot and keep the change!  I'll bet someone on Wall Street is thinking about using that bonus to float it too!

Tue, 01/07/2014 - 23:53 | 4310418 StychoKiller
StychoKiller's picture

On the 19th, I plan on getting some NY-style pizza (in Sioux Falls, SD!).  Anything else from NY? Meh.

Wed, 01/08/2014 - 01:41 | 4310649 mt paul
mt paul's picture

not one moat

amongst the lot

 

how can you have a castle

with out a moat

for the draw bridge...

Wed, 01/08/2014 - 07:14 | 4310852 Debugas
Debugas's picture

would not it be cheaper to live in a hotel all your life ?

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