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.
"Nature is a damp, inconvenient sort of place where birds and animals wander about uncooked."
from Speedy Death
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.Um, 1.1 mil is sorta chump change for Manhattan real-estate, particularly the area in which Weir bought.
Last edited by Willowway; 02-08-2011 at 02:26 AM.
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).
Last edited by Willowway; 02-07-2011 at 11:09 PM.
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.
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.
"Marge, if you're going to get mad at me every time I do something stupid, then I guess I'm just going to have to stop doing stupid things!" - Homer Simpson in the Mr. Plow episode
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.
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.
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!)