Monday, April 12, 2010

Location, Location, Location . . .

Location - a buzz word in the world of real estate.  Everyone has different ideas of what their ideal location would be.  Some like the beach, others dream about living in the country; some even love the town I currently live in (sorry to say I am not one of them!).  My dream location:  the city.  Somewhere where I could walk out the door of my building with a canvas bag and be able to shop for the ingredients for dinner - by visiting the butcher, the bakery, the local produce stand - not driving to the local supermarket in my SUV and buying everything in one place.  To have museums, theatre, shopping and excellent restaurants all within walking distance of my home would be a dream come true.

My neighborhood of choice would be the Upper West Side of Manhattan - close access to Central Park, near the best shopping, and it offers many residential locations with stunning views of the city and the park.

Like this . . .


This beautiful rooftop terrace is part of a two bedroom, two bathroom apartment on Central Park West.  At 2,300 square feet, it is considerably larger than my current home, so I know all my possessions would fit nicely with room to spare.  It has a wood burning fireplace, a huge living room with park views -


and a staff room, which could be the cat's room (complete with his own bathroom for his litter box!).  My favorite part of this apartment is the kitchen -


It is ideal - top of the line appliances, wood floors, and space for a large table - the perfect place to prepare a five course dinner . . . or some Scooby Doo macaroni and cheese!

Photos courtesy of Corcoran.com

It also has this second wonderful rooftop seating area - imagine sitting there with your morning coffee, a Zabar's bagel and the Times crossword puzzle, or you could enjoy the sunset with a martini on a hot summer evening.

The downside to this lovely piece of real estate is the purchase price:  $10,800,000 (with 50% of the asking price required as a deposit).  Let's do the math:  a 30-year mortgage at approximately 5%, including taxes and monthly maintenance fees will cost about $34,000 a month (yes that includes the 50% deposit; the mortgage is only on $5,400,000). Ouch.

Well, maybe someday . . .



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