Johnny Closes on 1.1 Million Dollar Condo

Discussion in 'Great Skate Debate' started by Iceman, Feb 7, 2011.

  1. Iceman

    Iceman Well-Known Member

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  2. Frau Muller

    Frau Muller President of Dick Button Appreciation Club

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    A wonderful place to house his Faberge collection (and the USFS Readers Choice Trophy that could not be mentioned in the NBC Nationals telecasts). Way to go, Johnny!
    kwanette and (deleted member) like this.
  3. zaphyre14

    zaphyre14 Well-Known Member

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    So much for his claims of poverty... Gues all those shows in Japan pay pretty well...
  4. orientalplane

    orientalplane Mad for mangelwurzels

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  5. bardtoob

    bardtoob Well-Known Member

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    This is just about the stupidest purchase ever for somebody with his career trajectory.
  6. DFJ

    DFJ Well-Known Member

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    His career trajectory? Do you know what that is?
  7. bardtoob

    bardtoob Well-Known Member

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    Do you in Socialist Canada :rolleyes:
  8. overedge

    overedge Well-Known Member

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    :rolleyes: Has the USFS Readers Choice Trophy winner *ever* been mentioned in the NBC Nationals telecasts? Aren't there more important things to give air time to - like, you know, the people who are actually competing? Please. I don't think the USFS specifically told NBC not to mention it this year just because Johnny won it.
  9. DFJ

    DFJ Well-Known Member

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    I was legitimately asking if you know what his career plans are out of interest. Your stupid, snarky remarks are not necessary (plus I'm not sure what Canada has to do with this).
  10. query5

    query5 New Member

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    i am sorry, i am not nice, but now hopefully he can stop complaining about needing money.
    if he needs it now he can just sell his condo.
    i know petty. but i think he had money before just not what he wanted, now he got want he wanted.
  11. judiz

    judiz Well-Known Member

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    It's Johnny's money and he will have to deal with the consequences if he can't afford the condo in the future.
    RunnersHigh and (deleted member) like this.
  12. marbri

    marbri Hey, Kool-Aid!

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    For all we know Bravo could have arranged the condo so they can add him to the cast of RHoNY (isn't he friendly with one of the women there?) ;):p
  13. aliona22

    aliona22 New Member

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    He's actually getting a pretty good deal for a condo in that neighborhood.
  14. Aceon6

    Aceon6 Get off my lawn

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    Agree, the price sounds pretty good and it's pretty consistent with what other "almost rich" people pay. It's all relative. You have to remember that a small 2br on the Prospect Park side of Brooklyn goes for $500k or more.
  15. Frau Muller

    Frau Muller President of Dick Button Appreciation Club

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    Johnny was selected by, uhhhhh, the majority of USFS Skating Magazine readers. Would've made a lot of viewers happy. Just like Evan fans were happy to see their man sitting behind the bullet-proof skybox, via NBC's telephoto zoom lens, more than once. :lol::lol::lol:

    From the little article, it appears that Johnny's move into the $1.1million condo will be filmed for the next installment of his reality show. Quite a step up from last year's move to a smaller, ground-floor flat in New Jersey. It could be that the cable network is pitching in $$$ and/or Johnny's Angels assisting? And the $1.1 mill doesn't include the furnishings and decor that this sort of abode requires. He could easily spend $100,000s on top-flight furniture, artwork beside the Faberges, etc.
    Last edited: Feb 7, 2011
  16. overedge

    overedge Well-Known Member

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    Are you on crack?
    Everyone knows how the award winner is selected, although BTW that would be by the majority of *voters*, not the majority of *readers*. Nevertheless, AFAIK the Readers Choice Award winner has never been shown on the NBC broadcast. The fact that Evan was shown on this particular broadcast has nothing to do with Johnny or any previous Readers Choice Award winner not being shown. Unless you're a paranoid conspiracy theorist.
  17. Frau Muller

    Frau Muller President of Dick Button Appreciation Club

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    No, I'm on "Johnny"!!! Johnny is such a celebrity-character. He's not just "another former national champ" or Olympian sitting in the audience. C'mon, let us have our fun. :hat1:
  18. HisWeirness

    HisWeirness Yay, new board!

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    Congrats Johnny! :cheer2: I believe this is his first purchase of a home.
  19. genevieve

    genevieve drinky typo pbp, closet hugger Staff Member

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    In the skating world, that's exactly what he is.

    He's chosen to take his career in a different direction, which is fine, but I don't see why his non-skating exploits would make his presentation a higher priority on the Nationals broadcast than seeing the skating, especially when the precedent has been that the Reader's choice award isn't shown.

    Personally, I was happy that we got to see it on IN.
  20. IceAlisa

    IceAlisa Port de bras!!!

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    One would have to assume that a bank has given him a loan so there is some evidence of the ability to pay his mortgage. Best of luck and congrats on the home ownership to Johnny.
  21. Cheylana

    Cheylana Well-Known Member

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    Oh wow, I heart Madison Square Park and the surrounding area!!! But such a lot of money... I recall Johnny saying just over a year ago at the Brooklyn documentary screenings that he was living paycheck to paycheck....

    Buying real estate, especially a 2-bedroom in Manhattan, is generally a reasonable investment that usually appreciates in value. I think he could sell it for a profit after a few years, so long as he has the $$ to keep up with the payments. Maybe the show is chipping in a bit, a la Jon & Kate.
  22. Auntie

    Auntie New Member

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    :yikes:
  23. sk9tingfan

    sk9tingfan Well-Known Member

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    We know that $1.1 million was paid for the condo.We're not sure if he paid cash or he has a 30 year mortgage, and we don't know how much of a down payment was made. Perusing the real estate listings, it sounds like he could have gotten a lot more for his money potentially in another Manhattan neighborhood and that he may be paying top dollar for his new abode

    Hypothetically, if he put down 20%, he would be left with an $880,000 mortgage @ around 5% or more as of today. With a mortgage of around $4700-$5000 + NYC tax rate for 2010-2011 of 13.241% or another $1225 per month + condo fees similarly around $1225 per month, Johnny is looking at between $7000 and $7500 per month.

    http://www.citi-habitats.com/344549-15-East-26th-Street-12C-New-York

    Here's a similar apartment to what he may be buying. I just hope that he can forsee paying more than $7000 per month for the next 30 years. That is, unless he was able to buy the unit for cash. He's still looking at paying at least $2500 per month.
  24. sk9tingfan

    sk9tingfan Well-Known Member

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    http://ny.curbed.com/archives/2011/02/06/johnny_weir_buys_at_twenty9th_park_madison.php

    We know that $1.1 million was paid for the condo. We're not sure if he paid cash or he has a 30 year mortgage, and we don't know how much of a down payment was made. Perusing the real estate listings, it sounds like he could have gotten a lot more for his money potentially in another Manhattan neighborhood and that he may be paying top dollar for his new abode. Less than 900 square feet!

    Hypothetically, if he put down 20%, he would be left with an $880,000 mortgage @ around 5% or more as of today. With a mortgage of around $4700-$5000 + NYC tax rate for 2010-2011 of 13.241% or another $1225 per month + condo fees similarly around $1225 per month, Johnny is looking at between $7000 and $7500 per month.

    I just hope that he can foresee paying more than $7000 per month for the next 30 years. That is, unless he was able to buy the unit for cash. He's still looking at paying at least $2500 per month.
  25. merrywidow

    merrywidow Well-Known Member

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    My guess as to where the money came from would be his judging stint on "Skating with the Stars". If contestants on "Dancing with the Stars" make $100k for one episode, then I'd guess that those judges make as much or more. Then there are the proceeds from his book's sales. He has a lot of irons in the fire.
  26. Prancer

    Prancer Ray Chill Staff Member

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    ITA. It's not easy for most people to get a mortgage these days and I don't think Johnny is enough of a celebrity to get away with a smile and a handshake, especially not in Manhattan.
  27. Rex

    Rex Well-Known Member

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    How close is it to Central Park? Just wondering.
  28. Jenny

    Jenny From the Bloc

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    About 32 blocks, or a half hour walk.
  29. mmscfdcsu

    mmscfdcsu Skating Pairs with Drew

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    Last edited: Feb 7, 2011
  30. marbri

    marbri Hey, Kool-Aid!

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    He's going to need that money to convert the bedroom into a walk-in closet because the current one isn't going to work :D I can imagine the moving in episode already, Johnny squealing at the inadequate storage space for his furs and shots of him sleeping in the tub as his wardrobe take over the bedroom :p
  31. Hannahclear

    Hannahclear Well-Known Member

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    Are people offended by this? If so, why?
  32. Tinami Amori

    Tinami Amori Well-Known Member

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    Back in USSR!

    I am having a charming deja vu ……… It’s the 1970’s…… Our apartment building across the street from Izmailovsky Park

    …… 5 babushkas and 3 retired drunks sitting on a bench in front the house and chatting about the neighbors: where did Mrs. Volkova got the money for a Crimea vacation…… where did Mr. Ivanov got the money to buy a new Volga sedan…… which “secret lover” bought Miss Semenova brand new fur coat….. And what-ever the scenario is about the "acquisitions and the methods" for these babushkas and drunks it is all about the anger at “evil Capitalists” who dared to acquire something these losers can’t afford or don’t have the brain to acquire…… :D
    IceAlisa and (deleted member) like this.
  33. BittyBug

    BittyBug Quadless

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    Why? He needed the money then; he apparently has plenty of income sources now. I don't see how the two issues are related.

    I was not one of Johnny's sponsors, but I have donated to other skaters over the years. I did not expect that any of them should take a vow of permanent poverty. Quite the contrary, I have always hoped that each of them would enjoy success in their future.
  34. kwanette

    kwanette Fetalized since 1998

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    I'm not offended.I say good for him..he's been working non-stop since the OLY. One would think and hope that he has a financial advisor. Is it really any more our business than Sarah's employment?
  35. IceAlisa

    IceAlisa Port de bras!!!

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    :rofl:
  36. orbitz

    orbitz Well-Known Member

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    :eek:

    Anything more than 1200 per month is way too much for me ... but I'm poor :lol:.
  37. Willowway

    Willowway Well-Known Member

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    This statement is correct but Johnny bought a one-bedroom.

    As those of us who know the Manhattan market understand, two-bedroom apts. in NYC appreciate well and sell well (given a good neighborhood profile, etc. etc.) but one-bedroom apts. can be a tougher sell and are not the 'slam dunk' investment that a two-bedroom often are.

    $1.1 m for a one-bedroom in a not-very-neighborhoody part of town (not a part of town with a clearly defined neighborhood character e.g. Tribeca, Soho, UWS, UES, etc.) is a risk of sorts. Well, any investment is a risk of sorts but owning your own place is great. Shiny new building with good amenities - hopefully it ages well (some do, some don't).

    One thing I think this does say - no competitive future (as if we didn't know that). Although one can always cab it southwest to Chelsea Piers, that's the only full-sized skating surface anywhere nearby. I also don't think one takes on a substantial mortgage or if he paid cash, substantial monthly charges when one's time is devoted to competitive skating. He will also now be an NYC resident which means additional income taxes (in addition to his real estate taxes on the apt.) and in general, it is an expensive place to live.

    Like others, I hope this is the end of the whining about how he is just scraping by, doesn't have what other people have and on and on. All that may have been true way back when but I don't think it has been true for a while now. I think his future is a little clearer than it has been of late - reality-based entertainment plus the guest spots he has been landing. What he does need to do is establish a marketable persona beyond skating because the skating context that grounded his reality shows is gone. Without that, does he needs more of a hook than Snooki has? Maybe, maybe not.
    Last edited: Feb 7, 2011
  38. BYTCH

    BYTCH Well-Known Member

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    Any chance an SD (Sugar Daddy) bought it for him? :watch:
  39. Cheylana

    Cheylana Well-Known Member

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    Oh, my bad! Why did I think it was a two-bedroom??? :confused: :lol:

    Well... $1.1 million is a lot to pay for a ONE-bedroom apartment, though if the building is sufficiently upscale, it still will probably appreciate in value, albeit more slowly. I wish him the best of luck with it.
  40. orbitz

    orbitz Well-Known Member

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    ...Not that there's anything wrong with that.