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NYC real estate hasn't gone up 10x during that time. As much as you want that to be true, you're just objectively wrong.
by moralestapia 1y ago
NYC real estate hasn't gone up 10x during that time.
As much as you want that to be true, you're just objectively wrong.
- NickC25 1y agoYou're right, it hasn't gone up 10x during that time, it's gone up far more. His trust also owned the land for the buildings, which is far more valuable than the buildings Fred built. Shit, my sister owns a walkup in lower Manhattan that she bought during COVID and it's already 3x'd in value as of latest appraisal. You're stretching back 40-50 years, and that was when NYC was a dirty hellhole. It's nice now. You bought in Brooklyn at that same time Fred bought up a lot of Manhattan, you're looking at a return around 300-400x EASILY. Manhattan, if you bought in the 70s and 80s, you're looking at a much higher multiple.