You're watching...
FBN’s Sandra Smith with David Justin, Justin Management president, on how he came to own an entire building of luxury apartments in New York City.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Two of these markets and -- a few million bucks will get she is Sandra Smith in New York Robert -- on the left coast.
Let's stop with Sandra.
It's amazing what we're learning and in the reporting on this story we are sitting in a gorgeous two and a half million dollar home.
On thirtieth street in Manhattan it.
And we've also got the actual owner David Jackson adopted management the lucky -- We not -- in this unit the union tighter building and it turns out that you acquired this building a long time ago.
Yes -- book building in 1984.
At that point the real estate values New York -- -- dramatic overweight our new awareness for how much we -- back then for 700000.
Dollars how many units in the -- than there were twelve floors in the building and the -- full floor -- sea bottom for 700000 dollars it was a family acquisition to date is building is valued at what about sixteen million dollars.
It's taken good return on here about who want to get a lot of me is we're gonna take a look at this particular unit selling right now on the market Q&A half million dollars.
You decided to break this -- any unit to go conduct tough few of your -- or commercial but mostly residential.
Why do you think.
That somebody should by this particular unit for 2.5 million.
-- -- fed -- 19100 square feet by what's really unique about this building is that every tenant in here we'll have full floor presents they're not gonna have neighbors -- not gonna have to worry about who left what happened in the landing.
We're kinda smells are just some clever.
Let's actually show that why you say that real quickly if I open this door.
This is how you get into the conduct.
You know private elevator entrances as a little -- but like everything in New York tiny elevators tiny lawyer but this is your own private entrance and you're saying that's a major plus.
Yes people wanna come home they don't want to see what does a mother tended on the floor has slipped out.
Terms of garbage or any other types of Terry if they wanna get in and have a bit of privacy in this -- space we've really gets it.
We're gonna have to leave it -- that David is -- actually gonna jump over to the West Coast but the real estate market right now you're in your opinion in New York is booming.
-- --
