Discussion in 'Great Skate Debate' started by Iceman, Feb 7, 2011.
Are people offended by this? If so, why?
Back in USSR!
I am having a charming deja vu
Its the 1970s
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 cant afford or dont have the brain to acquire
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.
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?
Anything more than 1200 per month is way too much for me ... but I'm poor .
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.
Any chance an SD (Sugar Daddy) bought it for him?
Oh, my bad! Why did I think it was a two-bedroom???
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.
...Not that there's anything wrong with that.
Maybe "Alex" from the blue-blooded, well-heeled New England family (as per Johnny's book) is pitching in?
I nearly drowned my laptop in spittle when my sister told me her bf was paying $2400/month for a loft in SOMA (SanFran).....where he lives by himself! It's not even big enough for my sister to move in, and she can get by on a tiny bedroom in a 9-person house.
I mean, he does get paid a lot of money but he's quitting his engineering job to do independent iPhone dev so one hopes he'll learn to live below his means very very quickly. I mean, my bf also does independent iPhone dev and hasn't had income for 6 months, but he lived waaaaaay below his means on an engineer's salary and had a good amount saved up before taking the plunge.
That's San Francisco for ya.
Um, 1.1 mil is sorta chump change for Manhattan real-estate, particularly the area in which Weir bought. I don't think Weir is living an extravagant lifestyle just because he bought this place. In fact, I'd probably say he's investing wisely.
His book must be selling well.
$1.1 m is not chump change for an under 900 square foot, one-bedroom apartment, small kitchen (no room for a real table just a bar) in a perfectly nice but not a remarkably upscale area (this ain't 83rd and Madison, nor is it Central Park West). There is nothing cheap AND decent in Manhattan and this is definitely a nice building but it is not in spitting distance of Madison Square Park (almost 4 blocks away) nor is it the fun part of Chelsea proper - it's the sorta midway point (Park Ave. South) that's neither Chelsea nor Kips Bay. I think he paid a nice piece of change for what he actually got; hopefully it will be a good investment in the long run.
It's only a good investment if two things happen: it goes up in value enough to cover his initial down payment and ongoing payments, or he pays it off quickly enough that the interest charges (and the condo fees) don't pile up and erase any potential for profit.
Nothing is going up that fast in most real estate markets these days so any investment, if one is looking for appreciation, is a longer-term investment - there are no quick flips any longer (that was 10 years ago).
Sorry, your figures are way, way off.
Kate Gosselin reportedly made about that, but she a big name on the biggest show of the year (regular beating the weak "Idol" season).
I suspect Johnny got a couple thousand per episode of "SWTS" (that's a generous number), wardrobe, and accommodations. "SWTS" was a winter fill-in (short season, low viewership due to lack of general interest, lack of star power, and the holidays).
I'm sure he got a decent advance on his book, and I'm sure he gets paid pretty well to do shows. Remember, his travel is usually comped so his expenses (barring shopping) are pretty low.
A $7,000-8,000 mortgage is definitely not underheard of here in L.A. either, though that's usually a 2BR/2BA condo, not just 1BR.
I was gonna say the same thing. Real estate in that area is NOT cheap.
That $7000-$7500 is inclusive of mortgage, taxes and condo fees.
He might be getting some New York property tax breaks since he's a first-time home owner, which might bring down the overall cost a tad. Even a one-bedroom in Manhattan will likely retain its value, so I don't think he'll go broke on this venture, even if he can't flip it for a big profit.
The network may have helped to use the condo on his show. If so, good for him as long as his name is on the deed and not theirs. 1.1M isn't much if you watch Selling NY on HGTV. It just seems that way to those of us in the hinterlands.
Johnny is selling himself as fast as he can. The type of *fame* he's garnering is ephemeral. Go for it while you can JWe.
Also, "Selling New York" is totally fake like most "reality shows."
They recently had an episode with a soap opera star and her husband selling their condo for a couple mil.
An "interested party" that came with his "architect" and mother? He was just another soap opera actor, not even a series regular.
Okay, I'm sure no one is assisting with the purchase of Johnny's condo except the bank where he took out the mortgage. I"m sure Johnny made a nice amount of money from all his television appearances and such. Also, Johnny's apartment in New Jersey was not a small ground floor flat. As someone who lives nearby, I can tell you it is located in a very nice complex of apartments that rent for roughly two to four thousand dollars a month depending on the size of the apartment. And considering that Johnny bought all new furniture when he moved to New Jersey, I'm sure he will be taking it all with him to the new condo.
Why? Honestly... exactly HOW big is the "readership" of this magazine. This sounds like a Weir moment. The winner of this has NEVER been mentioned, but NOW it's a slight!!!! Where was this "Whine" last year or the year before that etc... but now that's is Weir it's an issue! More "woe is me" now from his fans!
And considering the "Weir" sightings at Nationals, I don't think he hung around much for NBC to "telephoto" him.
Johnny did not have access to the money donated to his training fund which was run by the New England Amateur Skating Foundation.. All skaters who have a training fund through NEASF are required to send all skating related bills to the fund which then sent out checks to the coaches etc for payment. The money was only allowed to be used for training and skating related purchases and the skater never saw any of the money.
ITA. I was thinking, as my boss used to say, the best money is other people's money. He must have some rich ubers, he should make some hay while the sun shines, his 15 minutes will be up one day.
If you look at the link mmmary posted, the real estate agent was Warburg--one of the agencies featured on Selling NY. Maybe they'll have an episode devoted to it .
Good for you, Johnny! Finally found a permanent home for that vacuum cleaner! Be happy and enjoy it...there's no place like home!
(...but I REALLY don't think they should have revealed his exact address like that... too much information!)