Yesterday at lunch someone mentioned an apartment building in the meatpacking district that sold lofts for millions on each floor. Okay, I said, that’s not unusual. But what is pretty darn strange is that none of the floors have insulation from the outside in. This meant that you were shelling out millions for a space that would leave you cold in the winter and blazing hot during the summers - not to mention run up your heating/cooling bills as a direct result. Okay, so a lot of places have this problem, but what was even more amazing is that there was an additional floor built and some ridiculous sum of money was paid for it (in the 20 mil range I heard) - this was to be the pristine penthouse - only thing was there was no actual support beneath the floor built for this penthouse. Though it has not crashed (or I don’t think) a few million for something that unstable is not very comforting.

Anyhow, this morning I found a great blog which lists various overvalued pieces of real estate and it will give those of you into home-repair, real estate and what not a real good laugh.

Related posts:

1. Real Estate Justice: Scarano Gets Nailed
2. real estate desperation
3. Lidle’s Estate Sued
4. ‘Real World’ comes back to NYC, keeps it real
5. Musings of a Real Estate Junky