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?
Prepare your barf bags, because it's bonus season on Wall Street! After several "lackluster" years, things are mercifully looking up for some, with many brokers reporting that they're seeing an uptick as executives get their bonus checks. For example, a triplex penthouse at The Marquand that's asking $46.5 million and has been on the market since November, has seen an increase in interest in recent weeks, with "serious contenders" being "Wall Street types." The article also has this line, which will make you want to punch a wall or something:
Adam Lynch, an associate broker at Town Residential, had a similar experience. He had buyers looking to purchase something in the low-$2 million range, but their bonuses "far exceeded their expectations, and since it was somewhat unexpected, it is almost like found money," Mr. Lynch said, adding that the clients "have upped their budget to well into the $3 million range." Heroes, all of them. [Bigger Wall Street Bonuses, Bigger Home Budgets]
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 Hunter: a retiree looking to buy
Price
Dream: $750,000
Reality: $685,000
Neighborhood
Dream: West Side
Reality: Upper East Side
Amenities
Dream: 1BR, high-rise sunny
Reality: 1BR, corner, sunny
Summary
This week's Hunter is a recent retiree looking to buy on the West Side, with a budget of $750,000. After looking at a collection of apartments in Midtown and being disappointed by the offerings for his budget, he started looking north, all while racing the clock on his expiring lease. He was outbid on several apartments and eventually found a nice, sunny corner one-bedroom on East 77th Street, for which he paid $685,000. [The Hunt/An Upper East Side Apartment in a Hurry; photo by Vivienne Gucwa/Curbed Photo Pool]
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