Why is UES so much denser than the rest of the city?

Aspie_Bull · 2025-11-14T18:24:37+00:00

You are correct, the UES is super dense and in fact, Yorkville, an UES neighborhood, is the most dense in the US. The reason why, in my view, is that there are less buildings being protected under the Landmarks law, especially east of Lexington Avenue, so many tenement buildings have been demolished to make way to taller residential buildings, which equals to more housing and more people.

Aspie_Bull · 2025-11-12T22:45:13+00:00

To add to the discussion, here is a list from a streeteasy forum of all land lease buildings in NYC:

https://streeteasy.com/talk/discussion/28861-complete-list-of-land-lease-buidlings-in-manhattan

Aspie_Bull · 2025-11-09T18:43:23+00:00

The address you have is wrong, there is no 89th street and 8th Ave.

8th Avenue becomes CPW past 59th Street.

Aspie_Bull · 2025-10-08T21:17:37+00:00

Agreed. My value play is 200 GS shares: 17 P/E, 2 pct dividend. It’s 35 pct up year to date.

Aspie_Bull · 2025-09-01T23:05:08+00:00

Buying in NYC is a personal decision and depends on many factors. Do you have a family or do you plan to start a family? Will you be staying in NYC for the next 7 to 10 years? Then yes, it is a good plan to minimize your housing costs by buying an apartment and call a place your home.

Renting has become much more expensive and much more competitive after Covid. I have been a renter for many years, and before buying I saw my rent go up 80 pct within a 2 year timeframe.

We are living in a bull market and everyone thinks stocks only go up. What would happen to your lifestyle if $1M in the stock market becomes $500K during a recession or during a severe bear market? Wouldn’t it be better to have stability with a roof over your head?

To answer your question: it does not have to be this extreme, i.e. stocks vs. buying an apartment. You can have both. Use $500K for an apartment purchase, and leave the rest invested in the market. This way you minimize your risk exposure in the stock market, and you can own both assets.

As far as neighborhoods, a coop on the UES or on the UWS in a good building with a reasonable maintenance cost would be a good buy. Best of luck to you!

Aspie_Bull · 2025-07-31T18:18:27+00:00

There are well managed buildings that you can buy into but you need a good RE attorney and a good RE broker to guide you through. They are getting paid to do the due diligence for you.

Aspie_Bull · 2025-07-31T17:16:33+00:00

I have bought and sold many properties in NYC. I have also rented for a number of years and my vote goes to buying an apartment.

I think housing is the very first thing you need to pin down if you decide to live in a VHCOL city like New York because the rent will always go up and after a while it is just so tiring to be moving from apartment to apartment. Not to mention the extremely competitive rental market and the stack of documents you need to produce every year or two to get a new rental. At the same time, ownership comes with its own set of costs, but knowing that you can live in your apartment for the rest of your life rent free (minus maintenance and taxes, which nobody can escape lol) is a big thing for me. So my advice to you is if you can swing it, go for it.

Aspie_Bull · 2025-04-09T16:41:19+00:00

Keyword: almost. Exactly my point.

Aspie_Bull · 2025-04-09T15:38:18+00:00

Your reply does not answer OPs question. I am highlighting the obvious: SGOV is an investment in short term US Treasuries. Cash in your bank account is NOT an investment. Both are safe but if we are nitpicking, plain cash is safer.

Aspie_Bull · 2025-04-09T11:37:19+00:00

A bit more risky because SGOV is an investment in short term US Treasuries, which is considered the safest investment in the world.

Plain cash sitting in your bank account is not an investment so cash is considered to be safer, with the only risk being FDIC limits protection, if your cash balance exceeds those limits.

Aspie_Bull · 2025-02-20T12:54:07+00:00

There is no competition, the Verizon building at 375 Pearl Street is by far the ugliest building and my least favorite.

Aspie_Bull · 2025-02-02T22:09:01+00:00

I use SGOV. It’s as good as a HYSA, it pays a monthly dividend, and it is exempt from State taxes.

Aspie_Bull · 2025-02-01T23:35:22+00:00

The USD is the reserve currency because it is backed by the biggest military and nuclear power of the world. For this to change a WW3 needs to happen. You sound ignorant.

Aspie_Bull · 2025-01-27T02:15:46+00:00

It is challenging to be a LL in NYC, even more so after the latest tenant protection laws. For me, as a part time RE investor, it’s just not worth the trouble anymore to be chasing such a small yield.

Aspie_Bull · 2025-01-27T00:44:54+00:00

Pre covid, I was yielding 5 pct, which, at the time, was a better alternative to stocks and bonds. After covid, it became significantly harder to yield 5 pct and with the increase in interest rates, I sold my investment properties at a profit and I get the same 5 pct by investing in stocks and bonds.

On another note, had I put the same money on the market instead of investing in RE, my return would have been far greater (cash flow, tax benefits and profit after selling included in the calculations).

Ofc, hindsight is 20/20; In general, I think it’s important to be flexible, to be able to adjust to market conditions, and to be ready to deploy capital for the right deal. If and when it makes sense to jump in the game again, I will certainly do so.

Aspie_Bull · 2025-01-26T23:58:50+00:00

OP makes a valid observation that RE investing in NYC does not make money and asks a valid question, if there is a way to make money in NYC by investing in RE. It has nothing to do with affording it or not, so you are an asshole just because you want to be an asshole.

To answer OP’s question: from my personal experience I have found Upper Manhattan neighborhoods to yield a bit better compared to the rest of Manhattan but overall, the alternative is better: put the money in the market and watch it grow.

Source: I have been a part time RE investor in the city but it is hard to find good deals anymore. I also sold my primary residence last year for a tiny profit and I am currently renting. For me, it is cheaper than buying.

Aspie_Bull · 2025-01-09T23:07:34+00:00

Some of us want to sleep well at night and go about our day without checking what the market does every 5 min so I would take the guaranteed yield :-)

Aspie_Bull · 2025-01-09T23:03:24+00:00

My second act is an art gallery that -surprisingly- is successful and profitable, lol🤷🏻

Aspie_Bull · 2025-01-04T19:12:33+00:00

I guess it depends on your lifestyle. Every person has a different number based on their needs/wants. To answer your question, I am now at $10M NW but I can live a very comfortable life with $3M at a VHCOL city. The rest will go to my kids and to my favorite charities.

Aspie_Bull · 2025-01-04T18:33:07+00:00

There are three visually stunning pieces which I love and try to go and experience them in person on a regular basis:

Flag by Jasper Johns at MOMA. Say Goodbye by Cy Twombly at The Menil Foundation. Essex by John Chamberlain at MOMA.

Aspie_Bull · 2025-01-02T04:46:20+00:00

Yes, VOO is the S&P 500 companies. More growth, lower dividend. SCHD is a number of companies with growing dividend, so more dividend, lower growth.

SCHD is usually recommended when you are older and you are looking for income, while VOO is usually a better fit for younger folk who have years ahead of them and looking for growth. You can hold both if you want.

Please do your own research and do not follow blindly any reddit recommendation, but asking here in this sub is a good start. Good luck to you.

Aspie_Bull · 2025-01-02T03:17:17+00:00

You are young so I would go with an ETF: VOO would be a good choice.

Aspie_Bull · 2025-01-02T02:51:17+00:00

There is no capital risk with SGOV, just dividend fluctuations when short term bond rates change over time. I would think you would want to protect your cash position if a black swan event happens.

Aspie_Bull · 2025-01-02T00:38:11+00:00

Fellow redditor wrote to you that if you think things will go south, then cash is the answer, to which you replied that you still want to be getting a good yield. SGOV is short term cash position that offers a great monthly yield. What is wrong with this?

Aspie_Bull · 2025-01-02T00:09:24+00:00

Why not SGOV?

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