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Bezos HQ2: Amazon CEO Pays $80 Million For Three NYC Apartments (architecturaldigest.com) 59

Posted by EditorDavid from the location-location-location dept.
Long-time Slashdot reader theodp writes: Architectural Digest on Amazon CEO Jeff Bezos' $80 million New York City bachelor pad: "Jeff Bezos is not only taking over the internet but is also ruling the real-estate world too. It was just revealed that he purchased not one but three Manhattan apartments overlooking Madison Square Park for $80 million. Included in the sale was a three-floor penthouse apartment [video], in addition to the two units below, giving the Amazon founder and CEO the potential to create a palatial 17,000-square-foot, 12-bedroom pad. [...] This is just the billionaire's latest purchase. He already owns an apartment overlooking Central Park, four California homes, and homes in Texas, Washington state, and Washington, D.C."
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Bezos HQ2: Amazon CEO Pays $80 Million For Three NYC Apartments More

Bezos HQ2: Amazon CEO Pays $80 Million For Three NYC Apartments

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  • Sounds totally groovy, man. I can dig it.

    • Re: Palatial, 12-bedroom pad (Score:2)

      by Anonymous Coward

      Just wait until he gets a taste of the NYC dating scene. He may go back to Seattle.

      • Re: (Score:1)

        by Anonymous Coward

        Once you go black, you never go back

      • Re: Palatial, 12-bedroom pad (Score:1)

        by Anonymous Coward

        There are over 300,000 more women than men in NYC. So while there are few cities where a woman would be less impressed by his wealth, heâ(TM)ll be fine.

        • Re: (Score:2)

          by Cederic ( 9623 )

          Oh sure. Women in NY would sniff at Bezos' net worth, like it meant nothing to them.

          I believe you.

      • Just wait until he gets a taste of the NYC dating scene. He may go back to Seattle.

        Just wait until he gets a taste of the NYC permit scene. He will flee for the safe haven of some capitalist city.

  • He's gotta be paying millions in taxes, utilities and maintenance - every year. Unless there's some creative accounting happening.

    • Per the listing(s) roughly $260K per year in taxes and another $412K per year in building maintenance. More for general upkeep of his space, but those costs are much lower.

  • There goes the neighborhood (Score:4, Funny)

    by fustakrakich ( 1673220 ) on Saturday June 08, 2019 @05:01PM (#58732354) Journal

    Now everybody's property taxes will inflate even faster.

  • Conspicuous consumption (Score:1)

    by Anonymous Coward

    What's this, National Enquirer?

    So you're a billionaire and you do what, buy a nice countryside estate with a couple farms so it pays for itself? Nope. Build a tower in the city? Nope. Buy a tower in the city? Nooope. Buy a "bachelor pad" in someone else's tower for WAY THE FUCK TOO MUCH money? Check.

    On the face of it, this is just stupid. It makes as much sense as a gold-plated red-diamond-encrusted mobile phone that'll be outdated in a few short years. Unless you want to show off just how much money you ca

  • As someone who owns in NYC, I know that the additional cost of these apartments/condos is the maintenance cost and the taxes. For Bezos' purchase ($80m) he will owe $260K per year in taxes, and $412K per year to the building for general upkeep, staff salaries, and other costs. I pretty much all of these costs will only go up. It makes renting a place for $150K a month look downright affordable.

    • Can I just say I'm appalled at how low property taxes are in Manhattan. According to you, for an $80million home, he'll pay $260k. That's 0.325% in property taxes. Three-eights of a percent. Other places have property taxes 10-20x that rate.

      • And property values that are much lower. They make up for any shortfall in city income tax.

      • Yeah, average rate is a lot lower than the rest of the US (~1.2%) but a few things to remember: 1) NYC has more value in real estate in high density than anywhere else in the world, so it is potentially easier to maintain the city with a lower tax rate 2) NYC makes it's money from a diverse stream of income tax, and very high sales tax (8%+).

        Also, and I'm not sure how this should be considered, NYC real estate value has gone up a lot in the last 20+ years, so rates haven't necessarily been assessed on the

        • Wait, NYC doesn't re-value real-estate at regular intervals?

          • Re: (Score:2)

            by ffejie ( 779512 )
            They do, but it's not consistent, and not necessarily tied to sales data. So a good example is if I do a big renovation of an apartment, the taxes don't necessarily change, even though I might sell the place for 2x the value I bought it for.

            A lot of this has to do with condo vs. co-op, and I am speaking mostly about co-ops, where there is a corporation that owns the building, and the tenants of the building own shares in the corporation, and technically rent the apartment. The building gets assessed as a w

          • Re: (Score:3)

            by ffejie ( 779512 )
            Some more data - New York County (Manhattan) has a published tax rate of 1.925% (Brooklyn is 0.627%), but as you point out, Bezos is only paying 0.325%, likely because of the assessment.

  • Madison Square Park? (Score:1)

    by Anonymous Coward

    Much rather spend that amount overlooking Central
    Park where in one can take in the aroma of literal horse shit while watching the occasional jogger get mugged.

  • NYC real Estate is relatively cheap right now. Those that like to time the market are getting in now.

    Of course, it is still cheaper to rent an apartment in NYC of the same square footage than to buy. NYC is weird like that - the taxes and maintenance for owning alone are almost half the rental price - so any reasonable mortgage means you are cash flow negative. The only reason to buy is to hope you sell it for a major profit.

  • Why is this news ? (Score:4, Interesting)

    by nehumanuscrede ( 624750 ) on Saturday June 08, 2019 @08:42PM (#58733130)

    Dunno about the rest of you but, I don't really care to be -constantly- reminded of how rich I'm not by the stories of:

    " Celebrity X just bought their 4th gold plated yacht ! Isn't that amazing ? Don't you wish you were like Celebrity X ? "
    " Former politician Y was paid a Bazillion Samolians for speaking at an event ! ( Definitely not a wait till you're out of office bribe ! We swear ! Really ! )
    " Famous citizen Z has so much money, they bathe in it nightly. They're going to buy the MOON ! "

    This is the shit that makes the news.

    And they wonder why folks quit caring.

    • It's probably a good idea to get reminders now and then of just how inequitable things are. It's not exactly pleasant to read stories like this, but it is practical in that way.

      Also, there's a certain kind of pleasure in depressing stories. There's probably a word for that in French.

  • Rich people have more money, buy nice stuff they don’t need rather than let digital ones and zeroes in bank accounts further accumulate. News at 11.

    What’s the point of having that much cash and not spending it?

  • So you have to compensate.

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