Darling little story in yesterday’s Times about people buying multi-million dollar homes and then having to tear them apart in order to make them “livable”.
[The] newly wealthy are crowding into the market not just to buy the city’s most expensive homes, but to hire its most coveted decorators, surround themselves with dozens of remodeling specialists, and ultimately invite friends and colleagues to see their urban palaces.
“Getting the very best of New York real estate is an extension of who they think they are; it goes with the rest of their … and portfolio,” said Denise Lefrak Calicchio, a former broker with Sotheby’s International Realty and part of a prominent New York real estate family.
“This trend is not going to go away because there are so many people who want these apartments,” she explained. “There’s the new rich and there’s the old rich. There’s the poor rich and the rich rich.”
Honestly, I have no problem with this. I found it kind of interesting and amazing, actually, and I’m not easily amazed.
The wealth these people have accumulated is just incredible, you know?
The people interviewed didn’t seem obnoxious or terribly arrogant (but really, you couldn’t tell very well what they were like). They seemed a bit insecure actually. At least three of them made a point of mentioning how much money they’ve donated to charity. (Whether or not they offered up this information freely or were asked by the reporter, is another question and, of course, their contributions were never verified …)
Just a funny little story about funny little people with idle millions, doing what I guess people like that do, every day. Meaning, spend more money.
Source: $6 Million for the Co-op, Then Start to Renovate – By Christine Haughney, The New York Times
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Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs
In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.
For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.
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John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.
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