Yesterday the New York Times ran a fascinating, if nearly-impossible-to-stomach, feature about the NYC real estate of the new-found crop of multimillionaires under 40, buyers that "nearly all prefer homes downtown" and "almost always pay all cash." Tech entrepreneurs and heirs of old city money apparently eschew the status-makers that ensnared the wealthy folk of their parents' generation, opting for, as NYT writes, smaller residential buildings downtown rather than the glass spikes that lure in foreign billionaires. Below, the six most eyeroll-inducing lines about these "pioneering, creative" go-getters, who, if one picks up what the Times is throwing down, gobble up eight-figure homes in between bites of humble pie:
6. "These younger, successful individuals, they are almost too intelligent to go for the bells-and-whistles sales pitch," [associate broker] Ms. Barron said.
5. "I am the type of person that will walk into Barney's in my sweatpants, I don't care," [interior designer] Ms. Bikoff said. "But at the same time, I am a serious buyer, and I think we went into some of these listings and they didn't take me seriously. That changed after we did the walk-throughs and they saw my comments and knowledge."
4. "If you think about what made them that kind of money, it is a pioneering, creative spirit," Mr. Tamarkin [an architect] said. "They have a lot of self-confidence — they aren't relying on an address or someone's name to give them that cachet, but rather they are going on their spirit."
3. Buildings like Walker Tower and 471 Washington Street lack many of the flashier amenities often featured in larger buildings, like golf simulators, giant screening rooms or basketball courts. But that is just fine.
2. The couple, who have a child, were featured in an episode of "Million Dollar Listing," a reality show on Bravo, expressing concern that the 4,200-square-foot unit, which comes with 4,000 square feet of outdoor space and a rooftop pool, was too small for the family of three.
1. They ended up combining the apartment with the unit below, creating a 7,200-square-foot home.
· When Age Belies Buying Power [NYT]
- Real Estate