Greatest Real Estate Finds

[Guest]

1 hour ago, samhexum said:

...Why butterflies? J wanted to pay homage to Pacific Grove’s unofficial mascot: the Monarch butterfly...

I wouldn't say unofficial mascot. It's the very in-your-face mascot of the city. You can't miss it when you drive in:

Edited November 19, 2022 by Unicorn

[samhexum]

The Grinnell, a stately co-op in upper Manhattan, might just be the city’s best-kept secret — for now.

Replete with spacious homes, a strong sense of community and maintenance fees that are considerably less than in comparable buildings, the property stands in a sleepy corner of Washington Heights, at 800 Riverside Drive. It also rarely has openings — but house hunters and otherwise property-curious locals now have their best chance in years to become members of this exclusive, and under-the-radar, club.

In this 83-unit structure, where residents typically spend decades, there are now an unprecedented four apartments for sale. When they trade hands, they’ll mark the first sales at the Grinnell since 2020, according to StreetEasy, when only two units sold. In 2019, just three units found new owners.

The Grinnell is home to units with dazzling older-world features — such as this wood-paneled dining room inside a $1.99 million listing for unit GRI. Hauseit Unit GRI’s kitchen features restored original oak cabinetry. Hauseit Hardwood floors and moldings galore round out the features of unit GRI. Hauseit

“I don’t recall when [four homes] were on the market at the same time,” said Bruce Robertson, 71, a long-time Grinnell resident. Robertson, also a Compass broker, represents the six-room unit 8H, which listed on Saturday for $1.59 million — its first time up for sale in 45 years. Aptly called a “hidden treasure” in its marketing description, this top-floor spread has three bedrooms, a 23-plus-foot-long great room, a windowed kitchen with the original glass-fronted cabinetry, a formal dining room with wainscoting and views of the George Washington Bridge.

One day later, according to StreetEasy, a two-bedroom spread with one bathroom — and tony touches such as picture moldings — listed for $1 million with RE/MAX Sparrow Realty.

Among the other availabilities: Unit GRI, an eight-room duplex, which now asks $1.99 million after listing for $2.2 million in April. It boasts three bedrooms and two full bathrooms. Features include French doors, a wood-paneled dining room, original oak floors and cabinetry, and mirrored mahogany doors. (Instead of a traditional listing, this home — represented by Hauseit — is an assisted for-sale-by-owner offering.)

There’s even unit 2A — a 1,800-square-foot three-bedroom with French doors, crown moldings, and bonus spaces including a library, a foyer, a maid’s room and a pantry. It listed in September for $1.35 million — and is represented by Jamella Swift of Keller Williams NYC.

The light-filled unit 2A, listed for $1.35 million, has French doors. Keller Williams NYC Unit 2A also has wainscoting and chic molding details. Keller Williams NYC

Occupying a full triangle-shaped block between 157th and 158th streets — and Riverside Drive and Edward Morgan Place — the Grinnell offers homes of a bygone New York era. The smallest apartment has five rooms and measures 1,100 square feet; the largest has more than 10 rooms and spans 2,700 square feet. Built in 1911 and designed by architects Schwartz & Gross, it’s a history-rich standout with a Mediterranean-style façade, a porte-cochere entryway to an interior courtyard — and other classic interior details including hardwood floors, leaded glass transoms and 10-foot ceilings. Amenities include a gym, a bike room and a rooftop terrace.

Apart from the grande-dame glamour and million-dollar asking prices, many New Yorkers don’t know it’s a Housing Development Fund Corporation (HDFC) co-op — meaning it’s part of the city’s affordable housing stock and subject to certain income restrictions for home purchases. It’s one of the most successful co-ops of its kind, and that “has worked well to maintain the Grinnell’s large infrastructure over the years,” said Robertson.

That said, the Grinnell is the uptown early-20th century apartment building fit for savvy New York royalty who, with the proper income requirements, can act now to get a coveted deal. It’s no surprise residents end up staying put.

The Grinnell stands on a full triangle-shaped block on Riverside Drive in Washington Heights. Stefano Giovannini The mighty building commands views in all directions, this one looking north over West 158th Street. Stefano Giovannini The Grinnell dates to 1911. Stefano Giovannini

“People who purchase in the Grinnell don’t move because it’s a wonderful place to live,” said Robertson, who’s also a former member of the building’s board and has sold 10 units in the building over the years.

Robertson has lived in a two-bedroom, one-bathroom spread with his wife, also a real estate broker, for the past 22 years. They found the apartment on a whim after getting priced out of their Upper East Side condo and immediately knew the building was special. He loves the south-facing windows, bright light, solid construction, high ceilings, hardwood floors and the quiet.

“All in all, it’s hard to encapsulate how the Grinnell is so special and how that came to be. Mostly because it truly is a community of cohesive residents, many families who’ve grown, now being replaced by young families, who care about each other,” Robertson said. “We don’t always agree about issues facing any 112-year-old landmarked building of its size and scope. But we work through them and are proud of a beautiful structure that looks and feels like living in a castle, in a bucolic-feeling area with wonderful neighbors in other comparable buildings.”

Robertson has sold nearly a number of units in the Grinnell over the years. Stefano Giovannini Robertson is also a 22-year resident of the building. Stefano Giovannini A virtually staged image of unit 8H, which Robertson represents. Tina Gallo Photography

Other long-time residents agree it’s a building with a lovely spirit.

Bruce Kanze, 74, an adjunct lecturer at the nearby City College of New York, moved to the Grinnell in December 1977 and lived in apartment 3B. He moved to 8F in March 1982, an eight-room, two-bedroom, two-bathroom apartment, with his wife and three kids, where he’s lived ever since.

“There’s a sense of belonging to a community, and we love our neighbors,” Kanze said. He recalled fond memories of climbing the mulberry tree in front of the building and picking berries with his daughters, of setting up summer lemonade stands with them — and of crab fests with the neighbors. “We’d buy bushels and cover the tables with paper bags and see who had the highest pile of crab shells,” he added.

But another reason why people stay so long in the Grinnell is because of its HDFC title. It’s one of 1,100 HDFC co-ops in the city, where residents are shareholders and own the building collectively. The status dates to 1982 when residents successfully bought the Grinnell from the city after a campaign that included the slogan, “Buildings for People, Not for Profit.” Apart from the tony interiors and like-minded community, part of the conditions for ownership include a flip tax, which also keeps residents put. The funds from it go towards the building’s capital reserve.

Unit 8H, on the top floor, also has great exposure to light, in addition to handsome hardwood floors and moldings. Stefano Giovannini The kitchen inside unit 8H. Tina Gallo Photography The wood-paneled dining room inside 8H. Stefano Giovannini 8H has northwest views of the George Washington Bridge. Stefano Giovannini

In addition to the income restrictions, a real-estate tax abatement makes the maintenance less than other co-ops of comparable size and stature. By contrast, a four-room, 2,000-square-foot apartment at 116 Pinehurst Ave. will set you back $1.58 million with $3,400 a month in maintenance. Similarly, a three-bedroom co-op in the century-old Riviera across West 157th Street from the Grinnell is going for $1.79 million with $2,174 a month in maintenance. Robertson’s $1.59 million listing, for instance, has $1,448 per month in maintenance. Both unit GRI and 2A have $1,450 monthly fees, StreetEasy shows.

Wayne Benjamin, 64, an architect who bought a 1,300-square foot, two-bedroom co-op in the Grinnell in 1987 for just $85,000 — about $228,000 today — has no plans to go anywhere. He enjoys cooking in his full-sized kitchen and listening to music on his vinyl record player — or jazz on an old-fashioned FM radio with a pair of speakers. He also enjoys rare New York City cross-ventilation, as every room in the apartment has exposures — so he can open the dining room windows, which face the courtyard, and the French doors and windows in the living room across the hallway, which face the street, and enjoy breezes year-round.

2A:

[CuriousByNature]

2 hours ago, samhexum said:

The Grinnell, a stately co-op in upper Manhattan, might just be the city’s best-kept secret — for now.

Replete with spacious homes, a strong sense of community and maintenance fees that are considerably less than in comparable buildings, the property stands in a sleepy corner of Washington Heights, at 800 Riverside Drive. It also rarely has openings — but house hunters and otherwise property-curious locals now have their best chance in years to become members of this exclusive, and under-the-radar, club.

In this 83-unit structure, where residents typically spend decades, there are now an unprecedented four apartments for sale. When they trade hands, they’ll mark the first sales at the Grinnell since 2020, according to StreetEasy, when only two units sold. In 2019, just three units found new owners.

The Grinnell is home to units with dazzling older-world features — such as this wood-paneled dining room inside a $1.99 million listing for unit GRI. Hauseit Unit GRI’s kitchen features restored original oak cabinetry. Hauseit Hardwood floors and moldings galore round out the features of unit GRI. Hauseit

“I don’t recall when [four homes] were on the market at the same time,” said Bruce Robertson, 71, a long-time Grinnell resident. Robertson, also a Compass broker, represents the six-room unit 8H, which listed on Saturday for $1.59 million — its first time up for sale in 45 years. Aptly called a “hidden treasure” in its marketing description, this top-floor spread has three bedrooms, a 23-plus-foot-long great room, a windowed kitchen with the original glass-fronted cabinetry, a formal dining room with wainscoting and views of the George Washington Bridge.

One day later, according to StreetEasy, a two-bedroom spread with one bathroom — and tony touches such as picture moldings — listed for $1 million with RE/MAX Sparrow Realty.

Among the other availabilities: Unit GRI, an eight-room duplex, which now asks $1.99 million after listing for $2.2 million in April. It boasts three bedrooms and two full bathrooms. Features include French doors, a wood-paneled dining room, original oak floors and cabinetry, and mirrored mahogany doors. (Instead of a traditional listing, this home — represented by Hauseit — is an assisted for-sale-by-owner offering.)

There’s even unit 2A — a 1,800-square-foot three-bedroom with French doors, crown moldings, and bonus spaces including a library, a foyer, a maid’s room and a pantry. It listed in September for $1.35 million — and is represented by Jamella Swift of Keller Williams NYC.

The light-filled unit 2A, listed for $1.35 million, has French doors. Keller Williams NYC Unit 2A also has wainscoting and chic molding details. Keller Williams NYC

Occupying a full triangle-shaped block between 157th and 158th streets — and Riverside Drive and Edward Morgan Place — the Grinnell offers homes of a bygone New York era. The smallest apartment has five rooms and measures 1,100 square feet; the largest has more than 10 rooms and spans 2,700 square feet. Built in 1911 and designed by architects Schwartz & Gross, it’s a history-rich standout with a Mediterranean-style façade, a porte-cochere entryway to an interior courtyard — and other classic interior details including hardwood floors, leaded glass transoms and 10-foot ceilings. Amenities include a gym, a bike room and a rooftop terrace.

Apart from the grande-dame glamour and million-dollar asking prices, many New Yorkers don’t know it’s a Housing Development Fund Corporation (HDFC) co-op — meaning it’s part of the city’s affordable housing stock and subject to certain income restrictions for home purchases. It’s one of the most successful co-ops of its kind, and that “has worked well to maintain the Grinnell’s large infrastructure over the years,” said Robertson.

That said, the Grinnell is the uptown early-20th century apartment building fit for savvy New York royalty who, with the proper income requirements, can act now to get a coveted deal. It’s no surprise residents end up staying put.

The Grinnell stands on a full triangle-shaped block on Riverside Drive in Washington Heights. Stefano Giovannini The mighty building commands views in all directions, this one looking north over West 158th Street. Stefano Giovannini The Grinnell dates to 1911. Stefano Giovannini

“People who purchase in the Grinnell don’t move because it’s a wonderful place to live,” said Robertson, who’s also a former member of the building’s board and has sold 10 units in the building over the years.

Robertson has lived in a two-bedroom, one-bathroom spread with his wife, also a real estate broker, for the past 22 years. They found the apartment on a whim after getting priced out of their Upper East Side condo and immediately knew the building was special. He loves the south-facing windows, bright light, solid construction, high ceilings, hardwood floors and the quiet.

“All in all, it’s hard to encapsulate how the Grinnell is so special and how that came to be. Mostly because it truly is a community of cohesive residents, many families who’ve grown, now being replaced by young families, who care about each other,” Robertson said. “We don’t always agree about issues facing any 112-year-old landmarked building of its size and scope. But we work through them and are proud of a beautiful structure that looks and feels like living in a castle, in a bucolic-feeling area with wonderful neighbors in other comparable buildings.”

Robertson has sold nearly a number of units in the Grinnell over the years. Stefano Giovannini Robertson is also a 22-year resident of the building. Stefano Giovannini A virtually staged image of unit 8H, which Robertson represents. Tina Gallo Photography

Other long-time residents agree it’s a building with a lovely spirit.

Bruce Kanze, 74, an adjunct lecturer at the nearby City College of New York, moved to the Grinnell in December 1977 and lived in apartment 3B. He moved to 8F in March 1982, an eight-room, two-bedroom, two-bathroom apartment, with his wife and three kids, where he’s lived ever since.

“There’s a sense of belonging to a community, and we love our neighbors,” Kanze said. He recalled fond memories of climbing the mulberry tree in front of the building and picking berries with his daughters, of setting up summer lemonade stands with them — and of crab fests with the neighbors. “We’d buy bushels and cover the tables with paper bags and see who had the highest pile of crab shells,” he added.

But another reason why people stay so long in the Grinnell is because of its HDFC title. It’s one of 1,100 HDFC co-ops in the city, where residents are shareholders and own the building collectively. The status dates to 1982 when residents successfully bought the Grinnell from the city after a campaign that included the slogan, “Buildings for People, Not for Profit.” Apart from the tony interiors and like-minded community, part of the conditions for ownership include a flip tax, which also keeps residents put. The funds from it go towards the building’s capital reserve.

Unit 8H, on the top floor, also has great exposure to light, in addition to handsome hardwood floors and moldings. Stefano Giovannini The kitchen inside unit 8H. Tina Gallo Photography The wood-paneled dining room inside 8H. Stefano Giovannini 8H has northwest views of the George Washington Bridge. Stefano Giovannini

In addition to the income restrictions, a real-estate tax abatement makes the maintenance less than other co-ops of comparable size and stature. By contrast, a four-room, 2,000-square-foot apartment at 116 Pinehurst Ave. will set you back $1.58 million with $3,400 a month in maintenance. Similarly, a three-bedroom co-op in the century-old Riviera across West 157th Street from the Grinnell is going for $1.79 million with $2,174 a month in maintenance. Robertson’s $1.59 million listing, for instance, has $1,448 per month in maintenance. Both unit GRI and 2A have $1,450 monthly fees, StreetEasy shows.

Wayne Benjamin, 64, an architect who bought a 1,300-square foot, two-bedroom co-op in the Grinnell in 1987 for just $85,000 — about $228,000 today — has no plans to go anywhere. He enjoys cooking in his full-sized kitchen and listening to music on his vinyl record player — or jazz on an old-fashioned FM radio with a pair of speakers. He also enjoys rare New York City cross-ventilation, as every room in the apartment has exposures — so he can open the dining room windows, which face the courtyard, and the French doors and windows in the living room across the hallway, which face the street, and enjoy breezes year-round.

2A:

Wow those places look great.  And compared to many 3-bed apartments in Toronto and Vancouver, they seem like a good deal even with the exchange rate.  But those monthly fees are huge... 

[Luv2play]

I like the original layouts in the Grinell. And the abundance of windows. Growing up in Montreal, we had a similar apartment to 2A depicted above . Same number of rooms except we had a sunroom that was accessed from the living room and dining room. And all the same features like loads of windows on three sides of the building, facing north, south and east. 

My sister got the maids room and I got the larger second bedroom. As I got older I would have perferred her room with its own bathroom. I had to share with my parents. The building was named Haddon Hall and was on Sherbrooke St. facing Mount Royal with no obstructed views. Built in the 1920's by the Bronfman family, the whiskey barons, for their friends originally.

[samhexum]

Christmas is around the corner — and who wouldn’t want to celebrate the holidays in an actual gingerbread house made entirely out of Pop-Tarts?

On Zillow, an off-the-market home described as the Pop-Tarts Gingerbread Lodge at 1 Kellogg’s Square has been listed.

And it looks, well, delicious.

The only problem? It’s probably meant for one of Santa’s little helpers.

Spanning a tiny 35 square feet, Pop-Tarts described the home as “just north of the Wild Berry Woods in the foothills of the Applefritterlachians.”

The pantry-style farmhouse features “frosted finishings” and “a toasty interior,” the listing notes.

Features include a baked kitchen and living room with a frosted chocolate-chip archway.

To celebrate their limited-edition gingerbread Pop-Tarts flavor, the company has featured the home on the real estate site.

According to the listing, the home features built-in frosted raspberry cabinets, with frosted cookies-and-creme counter space. The living room comes with a “crafted Eggo Frosted Maple Flavor” area rug with mid-century modern Frosted Chocolate Fudge furnishings, the listing adds. It also comes with frosted gingerbread Pop-Tarts above the fireplace, posing as an art piece.

The bedroom features Frosted Apple Fritter wallpaper and a sun-drenched reading nook, which “looks out on all .0006 acres of property,” the listing says.

It “is fit for a full-on party that is anything but cookie-cutter,” the listing jokes.

“This pastoral palace has to be seen – and tasted – to be believed.”

[+ MysticMenace]

 

 

[samhexum]

On 1/15/2022 at 4:56 AM, Luv2play said:

What a steal!

In Toronto, that kind of money would get you a 1500 sq. ft. renovated 19th century working class townhouse in a central area.

 

On 3/9/2021 at 7:43 PM, CuriousByNature said:

Any detatched house under a million dollars in Toronto or Vancouver would be an incredible find

 

On 5/5/2021 at 2:47 PM, lonely_john said:

Toronto's Real Estate market is really bad

This dazzling $25.65M apartment is Toronto’s priciest listing

https://nypost.com/2022/12/07/torontos-priciest-home-lists-for-sale-asking-25-65m/

[BSR]

Uh oh, somebody made a big boo-boo ... a 67-story condo tower in Manhattan is leaning 3 inches *gulp*  The crazy thing is that even after they realized it was tilted, they still continued construction (because yeah, that totally makes sense).  Now everyone is pointing fingers, filing lawsuits, and claiming $millions unpaid.  Needless to say, buyers have fled the once almost sold-out tower like rats off a sinking ship.  Yikes!

 

[+ azdr0710]

FOR SALE: Three Underwater Lots

"Seller is not sure if this tide land can be developed into a marina, yacht harbor, houseboat park, a pier, a ferry terminal or anything at all."

https://www.realtor.com/realestateandhomes-detail/Bancroft-Ave_San-Francisco_CA_94124_M94082-82825

[Marc in Calif]

1 hour ago, BSR said:

Uh oh, somebody made a big boo-boo ... a 67-story condo tower in Manhattan is leaning 3 inches *gulp*  

 

This San Francisco tower has long been tilting and... sinking! 

https://www.sfgate.com/local/article/new-problem-at-SF-sinking-tower-17179301.php

[+ azdr0710]

Both the NYC and SF leaning buildings above are built on fill land that was once offshore......much of the "new" waterfront land in SF was created from pushing the debris from the 1906 quake and fires into the bay

Edited December 24, 2022 by azdr0710

[samhexum]

Affordable Housing Lottery Opens for 12 Units in Jackson Heights, Studios Start at $2,171 Per Month

[pubic_assistance]

8 minutes ago, samhexum said:

Affordable Housing Lottery Opens for 12 Units in Jackson Heights, Studios Start at $2,171 Per Month

The last time I knew anyone with an apartment in NYC for close to $2K was this cutie who was renting an illegal basement apartment in Queens next to the boiler room, and entered through a doorway that you made to bed over to get through .

It's a rough market here.

 

[samhexum]

Sean Hayes scopes out $23M Upper East Side penthouse

Hayes, best known for his sitcom SEAN SAVES THE WORLD and for being the producer of GRIMM, toured a $23 million Upper East Side penthouse at the Wales, a historic former hotel converted to condos.

This spring, Hayes will be starring on Broadway in Pulitzer Prize-winning playwright Doug Wright’s new play, “Good Night, Oscar.”

The full-floor, 4,179-square-foot residence comes with an immense 3,114-square-foot wrap terrace across two levels — and includes an outdoor kitchen complete with a wet bar, a fireplace and a butler’s pantry.

The five-bedroom penthouse is new construction built on top of the historic hotel, with interiors by Parisian firm Pinto. The home opens to an entry gallery with a dedicated elevator. It flows into a corner great room with a fireplace, coffered ceilings, corner windows and terrace access via French doors.

[samhexum]

On 3/9/2021 at 5:16 PM, JoeMendoza said:

Greatest Real Estate Finds

I don't know that I'd call this a great Real Estate find...

Man dies from stroke days after realtor found him but didn’t call for help

https://www.theguardian.com/us-news/2023/feb/24/randy-vaughn-dies-stroke-realtor-family-investigation#:~:text=A US family has demanded,never called anyone for help.

[+ MysticMenace]

$250M penthouse?! that's just obscene!

 

[+ azdr0710]

19 minutes ago, JoeMendoza said:

$250M penthouse?! that's just obscene!

 

I wonder what the HOA dues are!  

[Luv2play]

That $250 million penthouse would give me the willies. I noticed the interviewer had them too as he couldn't approach any of the windows without squirming. A case of vertigo would be hard to avoid. 

I had the same reaction when I was in the viewing gallery at the top of the World Trade Centre back in the 1980's. I didn't want to get too close to the windows that went right down to the floor. You think if the window suddenly pops out you would be instantly sucked out.

[+ nycman]

21 hours ago, JoeMendoza said:

$250M penthouse?! that's just obscene!

 

Hated it. 

[CuriousByNature]

Overpriced.  I wouldn't pay a penny more than $245M.

[BSR]

On 3/6/2023 at 7:23 PM, azdr0710 said:

I wonder what the HOA dues are!  

Not for the faint of heart, here are the monthlies for Central Park Tower's triplex penthouse ...

• Common charges ("HOA" outside of NYC) are high, of course, but less than what I would have guessed:  $26,952.  Given the over-the-top amenities, that's actually, dare I say, reasonable.  Plus think how much they have to pay those window-cleaners.
• Property tax:  $47,686.  Keep in mind that NYC gets ~60% of its revenue from commercial and residential property taxes.  If you own a place like this, the taxman will exact his pound of flesh.
• Here's the Big Kahuna ... homeowners insurance:  $86,792 *gulp*

So your fixed costs per month add up to $161,430.  Annually, get ready to cough up *drumroll please* $1,937,160.*

PS:  the building does vanity floor numbering.  Central Park Tower actually has only 98 floors, but according to the listing this penthouse occupies Floors 129, 130, and 131.  Hey, only a sucker would pay a $quarter-billion for a 98th floor apartment, but a $quarter-billion for a 131st floor apartment is tooooootally worth it.

* Section 8 not accepted

Edited March 8, 2023 by BSR
Deleted redundancy

[Guest]

22 hours ago, BSR said:

Not for the faint of heart, here are the monthlies for Central Park Tower's triplex penthouse ...

• Common charges ("HOA" outside of NYC) are high, of course, but less than what I would have guessed:  $26,952.  Given the over-the-top amenities, that's actually, dare I say, reasonable.  Plus think how much they have to pay those window-cleaners.
• Property tax:  $47,686.  Keep in mind that NYC gets ~60% of its revenue from commercial and residential property taxes.  If you own a place like this, the taxman will exact his pound of flesh.
• Here's the Big Kahuna ... homeowners insurance:  $86,792 *gulp*

So your fixed costs per month add up to $161,430.  Annually, get ready to cough up *drumroll please* $1,937,160.*

PS:  the building does vanity floor numbering.  Central Park Tower actually has only 98 floors, but according to the listing this penthouse occupies Floors 129, 130, and 131.  Hey, only a sucker would pay a $quarter-billion for a 98th floor apartment, but a $quarter-billion for a 131st floor apartment is tooooootally worth it.

* Section 8 not accepted

Yikes! Property taxes are low in NYC. My property taxes ain't that much lower, and my house is worth way, way, way less than a tenth (closer to 1/100th) of that. No HOA dues, though. Due to extreme fire danger of living in the hills, my homeowners' insurance runs well into the 5 figures, though. 

[samhexum]

19 minutes ago, Unicorn said:

Due to extreme fire danger of living in the hills, my homeowners' insurance runs well into the 5 figures

If I were your insurance policy I'd run well into another state and stay there.

[BSR]

1 hour ago, Unicorn said:

Yikes! Property taxes are low in NYC. My property taxes ain't that much lower, and my house is worth way, way, way less than a tenth (closer to 1/100th) of that. No HOA dues, though. Due to extreme fire danger of living in the hills, my homeowners' insurance runs well into the 5 figures, though. 

The $47,686 is the property tax per month.  Annual property tax is $572,232.  Yikes! Are you paying half a $million per year in property taxes?!

[Guest]

8 hours ago, BSR said:

The $47,686 is the property tax per month.  Annual property tax is $572,232.  Yikes! Are you paying half a $million per year in property taxes?!

You're right. Still lower proportionally in NYC, but that's more sensible. My error!