Sunday, July 18, 2010

The Things People do for Real Estate

In NYC, real estate is power. With so little room and the demand for it insatiable, they who have great real estate here call the shots. In many ways, this city is like a medieval country -- how much land or property you have is your measure of status. More than the total number of your dollars in the bank, where you live, how much (or, better yet, how little) you pay for your property, and where in the city it's located is all that matters.

There's a big story today about a family saga over a $4 million apartment on Central Park West. It's a psycho-drama if there ever was one and the story includes, of all things, a sex change operation. You must read this to believe it -- if it's even possible.

And if you're interested in how real estate in NYC shapes lives and relationships, you must read the book or see the movie Slaves of New York -- the concept being that people who can't afford their own apartments and are forced to live with those who can become, in fact, their slaves.


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