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).






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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



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.


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 - 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 - 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.



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


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.


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