Carriage House Sold for $11.2m

Letsgohuskies11

Letsgohuskies11

Joined
Aug 26, 2011
Messages
4,766
Likes
6,958
Had some good times there in 04-06 until they basically tried to kill the party culture there that you had to be on a guest list to get in. No idea if parties still happen here
 
Palatine

Palatine

Joined
Aug 28, 2011
Messages
22,356
Likes
21,494
Anyone know what happened to Barbara Manor? Not a person, an apartment complex in the 70s.
 
Da_Aisijimo_Gou

Da_Aisijimo_Gou

Joined
Aug 26, 2011
Messages
9,126
Likes
5,740
"The apartments last sold in 2012 for $11 million. "The apartments were built in 1967 and underwent recent renovations."

2021 $11.2m sale - 2012 $11m buy - recent renovations = 8 years of income + depreciation (+ potentially sprinting away from ongoing crappy building renovation requirements, Mansfield government obstacles, etc)?
 
Da_Aisijimo_Gou

Da_Aisijimo_Gou

Joined
Aug 26, 2011
Messages
9,126
Likes
5,740
Letsgohuskies11 said:
lol that seems crazy. Could get a 2 bedroom in Astoria, NY right now for around this price if not a couple hundred more.
Expand ...
Other than close proximity to UConn, $1,650 makes limited sense for sh|t boxes. On the other hand, the Zillow ad may be starting asking prices or reflect what the market's willing to pay ... (read: possibly ignorant parents or parents with near $1,650 billable hours and/or potentially naive students with minimal financial management skills)
 
dvegas

dvegas

Duck Fuke
Joined
May 1, 2012
Messages
527
Likes
573
the seller paid $11 million in 2012. Imagine the capital repairs on turnovers must be crazy $$$ if its still the show it was in the 1980's. But student housing is (or was, pre-pandemic) a very hot CRE investment sector.
 
You must log in or register to reply here.

Forum statistics

Threads
160,093
Messages
3,822,193
Members
8,485
Latest member
Wbbnut

Top Bottom