BronxPearl v2.0

Confessions, ramblings, musings, and opinions from a BBW as she embraces 30 31 Years and Life (or at least tries to).

Saturday, February 16, 2008

My American Dream

A couple of Sundays ago, before I settled in to watch what would be my Giants “stomping out” the New England Patriots in Super Bowl XLII, I came in from church and flipped on the TV. For some reason, my TV was on channel 4 (NBC) and a show called Open House New York was on. I usually don’t pay attention to house-hunter reality shows like this, because it is always some young Caucasian couple looking to purchase property in a hot part of NYC. What made me stop and watch this Sunday was the fact that the house hunter was a black man. The real estate agent took him to two properties. One was on Central Park West at 69th Street. The other was the Ellison Condominium building on Adam Clayton Powell Jr. Boulevard & 133rd Street in Harlem.

One of my co-workers and I always have the discussion of “who is making all of this money to be able to afford the hefty price tags on these NYC condos that are going up all over the place the way Starbucks, Subways and Dunkin Donuts seem to be doing?” Whether naively or out of just plain ol’ ignorance, we assumed that it was largely white folks trying to get a piece of the Big Apple in any way, shape, or form. Seeing a black man who had to be no more than 35 years old being chauffeured between the two properties that he was seriously ready to purchase made me stop and watch closely.

I agreed with the young man that while the CPW’s location was ideal for him as a runner, and a stone’s throw from midtown and all other NYC nightlife, the Ellison building was where it was at. Among the several amenities discussed on the program and listed on the property’s website, each apartment has its own washer and dryer. The kitchens opened onto the living room, with an island in the center, ideal for some great get-togethers. Most of the apartments also have at minimum a balcony, while most have full fledged terraces perfect for summertime cocktail parties and cook-outs. I immediately fell in love with the apartment just looking at it on the show. The young man selected that one as well.

I realize even more, now than ever before, that where I am is NOT where I want to be. I want to one day be able to afford to live in an Ellison type of building. Most of them offer 90% financing, which means you have to come up with 10% of the asking price at signing. Now, the young man was a personal trainer and “part time jazz singer”. He wasn’t by any means a Wall Street tycoon or an MBA working at a financial company. But for him to be able to afford the Ellison, where a one bedroom starts at $625,000 (note: the 1 bedroom that the young man was looking at started at $725,000 but went down to $675,000), he must be making a nice amount of money. That is still $67,500 that he had in order to close on the apartment. Mind you, the young man’s HIGH price was $800,000.


In the last two years at my current 9-to-5 I don’t think that I even made the 10% for the signing price in my NET salary. I know a few people who make a good living by blogging. Some do consultant work on the side to keep the income flowing, but I know some who pay the bills by blogging. So I know it is definitely a concept that is not foreign. The gentleman who runs supposedly makes six figures a year with his different blogs.

The argument is, why can’t I? Certainly I do not want to simply blog for my supper. I actually have other ideas for other projects, events, etc. That would all bring in some revenue if done correctly.

It is becoming increasing difficult to be a 30 year old young woman who has not staked her claim in the world as of yet. Yes, BN is thriving and will be growing even more as of March 1st. But on a financial front? I am far behind where I feel I should be. I want to be that person on Open House NYC, looking for a hot condo in Harlem to invest in. I have a new male friend that is a homeowner at age 28. I tell him all the time that I want to be like him, because he owns property. He says he wants to be like me because I am starting my own company. So perhaps it is all about perspective. To me, he is already living the American Dream a la George & Weeze (sans a Weeze though, as far as I know). To him, I am making my mark on having the American Dream by creating what will be my legacy.

In the end, it all goes back to discipline...

I *will* have that apartment. I am going to add it to my long term goal list. I'm going to aim for age 33, but will be happy if it is by age 35.

You can check out the show and see the new property that has the apple of my eye here: Open House NYC.


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