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If this property is $6.5 now….what do you think it will be worth by the time the child turns 21?
A mother from China has reportedly purchased a $6.5 million New York City apartment for her 2-year-old daughter. The woman has remained anonymous, but Sotheby’s senior vice president Kevin Brown said the woman purchased the apartment for her daughter’s future college years at an American university.
“[The woman] said, well, her daughter was going to go to Columbia, or NYU, or maybe Harvard, and so she needed to be in the center of the city and that was why she was picking this one particular apartment,” Brown told the Chinese broadcaster CCTV. “So I said: ‘Oh, how old is your daughter?’ And she said: ‘Well, she’s 2.’ And I was just shocked.”
The apartment will be located inside the 90-floor glass skyscraper, One57 tower, which is to become the tallest residential building in New York when it is completed next year.
Source: “Chinese Mom Reportedly Buys $6.5 Million Apartment For Toddler,” AOL Real Estate (March 28, 2013)