308 West 78th Street – $4,200,000 finished
Listed at $4,200,000, our new exclusive listing at 308 West 78th Street is probably the best buy among Upper West Side townhouses right now. Think of it this way: If you live in the garden triplex, there is rental income from the upper floors of potentially $8,000/month. Depending on your tax situation, at 5% interest amortized over 30 years this could pay for $1,100,000 to $1,500,000 of your mortgage! This is like paying $2,700,000 to $3,100,000 for a finished garden triplex! (This assumes rental income is applied to the mortgage and not to building expenses.)
This is a great deal compared to a single family!