Celebrity Gossip - Dan R. buys $4mil NY Flat

[Steve]

In case you haven't already seen the news, Dan Radcliffe has
bought an apartment in SoHo New York for a little over 
US$4,000,000 under the name of his corporation Gilmore Jacobs
LTD. 

You can allegedly see the apartment at -

http://www.bergproperties.com/blog/?s=Daniel+Radcliffe


Dan allegedly immediately put the place up for sub-lease or
rental at US$20,000/month. That's $240,000/yr for reference. 

for rent, description -
http://www.halstead.com/detail.aspx?id=1495559

I do object to the news media trying to inflate this event
into a news worthy story by continually referring to it as
a 'penthouse', when it is really a 2 bedroom apartment on the
5th floor of a 13 story building. 

The building does have amenities such as large swimming pool,
sauna, steam room, and concierge services. 

Again, keep in mind this is prime NY real estate. In land
tight NY, even a studio apartment in a nice new building is
going to cost $1,000,000. A lowly parking spot is probably 
going to cost $100,000.

Since this is a relatively new building in a trendy 
neighborhood, it is likely a good investments, especially 
since he is buying when the Pound to Dollar exchange rate 
is in his favor, and the real estate market is down.

Also, if he sublets it, or has a live-in roommate/caretaker,
it will pay for itself in 15 years. Plus, by paying in cash,
he can save a small fortune in mortgage interest. Though,
he will likely have substantial condo association fees and
taxes. 

The photos at the site above show clearly, if we can trust
them, that this is a very nice apartment, and probably well
worth the money.

It is 1,843 sq ft which is a nice size 2 bedroom, but nothing
excessive. By illustration, if we make it a simple square box,
it is 43 feet on a side. If we, again for illustration, 
quarter that, we get four rooms of roughly 20 ft X 20 ft. So,
I don't see this as an extravagant apartment.  

It does hint at the possibility that Dan might be leaning more
toward theater acting in the future. NY is the center for 
theater; if he was pursuing movie acting, likely he would get 
something in Los Angeles.

In any event, paying cash, with a favorable exchange rate, 
and in a down real estate market, it is probably a wise 
investment. If he gets a reliable roommate, or rents in out
when he is not there, that tremendously offsets the cost.

Just passing it along.

Steve/bboyminn