Welcome to It Happened One Weekend, our weekly roundup of The New York Times real estate section...
1) Rich people. What are they spending millions of dollars on? What are they complaining about? This is What's Up With Rich People?
A 13-room duplex at 730 Park Avenue, once owned by the Yugoslav government, has been locked in real estate limbo for years, following the Balkan state's dissolution in the 1990s. Now, the Serbian government—who's the majority shareholder—is trying to capitalize on higher real estate values on the Upper East Side by selling the apartment and consolidating closer to the UN. The home is dilapidated and would probably fetch $15 million to $20 million in its current state, but if it's restored, it could sell for twice that amount. Oh, and if you've ever wondered how rich people feel about having diplomats for neighbors, the answer is "mostly negative," with co-op boards citing diplomatic immunity as a real pain in the ass for everyone involved. ["A Mission of a Different Kind"]
2) Every "The Hunt" column begins with the Hunters describing the apartment they want, and ends with them rationalizing whatever they came away with. This is The Hunt: Dreams vs. Reality
The Hunters: a couple of renters who decided to take the plunge and buy
Reality: Greenwich Village
Dream: New building, studio/1BR,
This week's Hunt is pretty rough. The hunters are a couple who decided that renting was a waste of money, so they decided to look for a place to buy. Their requirements were unbelievably vague. They were fine with either a one-bedroom or a studio, in either Brooklyn or Manhattan, and had no other requirements other than their price limit, which was $695,000. So eventually, they found a 425-square-foot studio in the Village. The buyer, Mr. Burleson, even admitted that it "wasn't [his] dream apartment," but he bought it anyway. Congrats, we guess? [The Hunt/"A Renter Does the Math"]