I am currently reading Great Fortune : The Epic of Rockefeller Center by Daniel Okrent, which is epic indeed. This quote made me chuckle, as it seems to be the only absolutely correct way of thinking about buying real estate in New York:
“… Arthur Brisbane, whose own ventures with William Randolph Hearst in the West 50s had already made him a very rich man, codified for his readers in The American the lesson of the Upper Estate deal: “Select your real estate CAREFULLY,” Brisbane wrote, “but GET SOME.“”