>33 million >49 units >Brooklyn, New York how is a

>>1505918
Supply and demand

idk why i said 49 it's 29 which is even more questionable

>>1505920
Tax shelter or money laundering

>>1505920
rent is average of 9k/month
108k * 29 = 3.132 million
3.132 million/year.

I'm not even sure how accurate the rents I'm seeing online are. There could be a penthouse there that goes for 3mil/year. It's quite obvious how they're making money.

>>1505933
How can rent be so high?

>>1506099
By people paying it.

>>1505918

>lrn2google
>$3,995 rent per unit
>29 units x 3995 = 115855 per month
>times 12 = ~1.4 million per year

>buy for ~1.6 million
> x 29 = 46.4 million

I can't believe I did the 2 minutes of work for this

>>1506099

For some reason there are people that think there is a legitimate reason to live in the city in 2016.

4k for a 2 bedroom in williamsburg isn't awful

>>1506976
k i'm buying it thanks