Real estate: Not bad if you do it right

by Mathew on September 22, 2008 · 6 comments

New York magazine has one of the most incredible real estate stories I think I’ve ever read: the story of 190 Bowery, a stately old brownstone bank building with six floors and 72 rooms, right at the corner of Spring Street. It looks abandoned from the outside, but not inside — photographer and artist Jay Maisel lives there with his wife and daughter. The Maisel family have been the only occupants of this 35,000 square-foot building since Jay bought it in 1966 for just $102,000. They live on several floors, cook in the old bank kitchen, and Maisel has turned several floors into a gallery for his work (he stores the rest of it in the old bank vault). The estimated value of the building now? Anywhere from $30-million to $70-million.
(hat tip to Kottke for the link)

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