Wow – total payout for the mortgage fees alone, assuming a 30 year mortgage is just over one million. Adding in the condo fees and taxes, they will pay 1.3 million over 30 years.
Lets see, 3700 x 12 months = 44.4 k/year to live there
renting comp unit 2100 x 12 = 25.2k/year (averaged hits from craigslist of 2 bd rentals around union square)
You can rent same place for about half of what the pay to own.
