NYT Reporter Checks Out $67 Million Midtown Apartment
Whenever we encounter an article like Julie Creswell’s weekend print/video piece, we can’t help but open a new Web browser window. However, when we tried to calculate the 30-year-fixed monthly payment (with 10% down) for that $67 million, 87th floor One57 apartment, the bankrate.com calculator told us: “Please enter a value between 1 and 10000000.”
When your monthly mortgage payment hovers around or exceeds a quarter-million, there’s no need for an online mortgage calculator. If you have to calculate, you can’t afford it:
Put another way, the apartment costs nearly $11,000 per square foot.
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