This is what $500,000 gets you, folks.  (via NYT)

This is what $500,000 gets you, folks. (via NYT)

I recently received a Google news alert, i.e. an ad, for a condo in Clinton Hill. I’m not in the market, but something struck me about the property. Not its precious name (Aperture 538) or the severe appointments, but its price tag: a staggering half-million dollars for a 533 square-foot studio. That is sheer lunacy — why would anyone pay that much for such a tiny space? Yeah, yeah, location, location, location. The ad says, “Clinton Hill is an ideal neighborhood to call home…”, which is true if you have no concept of the value of money. But I do; so I wondered if that cash would be better spent buying somewhere less desirable and simply visiting Brooklyn every weekend. (more…)