BG2008 Posted May 27, 2020 Share Posted May 27, 2020 Since there has been a lot of discussion of the work from home movement. I want to present a real world experiment of whether people will actually transact on arbitraging on cheaper locations. For those that live in Queens, Brooklyn, or Manhattan, and can now work from home on a permanent basis, I have a spare bedroom in a beach house (in the Rockaway which is just south of JFK) that will free up in the next 4 months. Could be earlier, but will likely be 4 months. It is a 3 bedroom 2 bath duplex with washer/dryer, small back yard for BBQ, garage, and parking passes in a well manicured community. We are the 3rd house from the beach. People surf year around here. The subway is a 3 minute walk and a 55 minute ride to lower Manhattan and about 40-45 mins to Downtown Brooklyn. So the Duplex is about 1,500-1,600 sqft on the ground and second floor. For those of us that have lived in shoe boxes in NYC, this is a very different change. Here is the real shocker, I am asking $950 for the bedroom. Shares like these are at least $1,500 elsewhere in NYC and likely over $2,000 in Manhattan. Are there takers? Are people curious? Yes, this is a shameless plug as I would like to have 1 roommate to share to help with the mortgage. I will mostly use the beach house as an office. Who doesn't want to run their fund from a beach house? I am also open minded to people who maybe interested in some sort of a value investing share at the beach house. So you can live in a cramped shoebox in Manhattan, LIC, Astoria, Carroll Garden, or you can be on the beach for $1,000 for a real bedroom in a 3 bed/2 bed duplex with its own washer dryer and permitted parking. Pre-Covid, I was already betting on a long term WFH trend. I thought that software coders, freelance web design, HF managers, etc will increasingly want to live on the beach. It used to be a pain to get into the city. But if you only need to be in the city for 1-2 days a week, this seems like a great option. Thoughts, feedbacks, appreciated. Link to comment Share on other sites More sharing options...
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