All they cater to are the very rich who think that just because they have money it will turn to gold. Let say an investor buys one of these places for 1 million dollars. He puts 100k down and carries a 900k loan. By the time he pays his mortgate ,taxes, insurance, maintenance fee, and upkeep, it will cost him around 10k a month. He uses the place one month a year or thirty days. Oh but he decides to rent it. Surprise no rentors. He could lose 6 to 7k a month and if you factor that yearly loss of 70 to 80k a year over a period of five yers, he will have spent 300k to 400k just to keep the place. Now factor in his gain of around maybe 5% a year, and that would give him around a gain of 250k. Do the numbers so unless you have deep, deep, pockets and money is no object stay away. I have friends who bpight into these projects, and all have loss their units through foreclosure. Of course I don't no people who can just throw money away, on something they just have to have. Do you get the point. We are in a real serious credit and realestate crunch. This will take years to repair and realestate devalution. I guess will have to get another load from the prince of Dubai or whatever his name is to bail us out. Oh I forgot to mention if the condo you bought lost 10 to 20% of its value, then where would that investor or buyer be.

Why has any body answered my post. What about those fancy realestate sellers. There job is like sellind ice water in the desert. From a house wife to a reaestate agent in three months. You have a buyer with money flowing from all pockets or a inexperienced investor who thinks he sees an opportunity to make a quick buck, and the agent just fills up the already printed sales agreement, and picks up a big paycheck. From the sales agent to the broker, to the builder to the lender using the publics hard earned money, they fill their pockets and leave the ignorant buyer holding a piece off property that his buring further every month. It a big mans game, and only a big mans game to play this market. O yeh Leonard what's his is name Decaprio bought two units, but what about Joe Smoh, how many units did he buy. Oh he bought one , but he just filed bankruptcy. You play the game but what goes up will always come down. If you want the game to continue you to keep the players in the game.   

Have a unit on 58th floor overlooking strip - getting ready to short sell - will take Broker Price Opinion less 10% - if interested call  619 316 5451