Mom Buys Toddler a Swanky $6.5 Million Apartment

OMG 14

One57New York realtor Kevin Brown was recently taking a wealthy client around the city looking at fancy multimillion-dollar apartments. She said her daughter would be attending Columbia or NYU (or maybe Harvard), and she wanted her to have a nice place to live in the heart of the city.

So, according to CCTV, the woman settled on a swanky $6.5 million one in "One57," a building that's still under construction. Filled with luxuries, it includes a private fitness center and yoga studio, private concert hall, and a "pet wash room" among many other amenities. What a lucky girl, right? No dorm food or roommate from hell for her.

Well, except for the fact that the daughter hasn't been accepted at any of these prestigious schools, or even applied for that matter. In fact, she is 2.

Talk about pressure!

Planning and dreaming for your children's future is one thing. Telling them to work hard and they could go to Harvard may motivate them. Signing them up for pee wee football and imagining them in the NFL is something plenty do. But to buy real estate in a specific city with specific schools picked out that you plan for them to attend is just twisted. Not to mention risky. 

We all do it to some degree. For example, opening college savings accounts lays out our expectations that they will go to college when not everyone does or needs to. But there are limits as to what's healthy, and at least on the surface, this seems to blow way past the limit.

I suppose we shouldn't judge the woman, who is from China but has otherwise been unidentified, too harshly before we hear her side of it. Maybe it was more making a smart real estate investment than anything, and she was just dreaming of something that could be. I sure hope so. And if not, I sure hope she's saving for therapy for her daughter too.

Can you imagine growing up with that kind of a plan already mapped out for you?

 

Image via One57

a mom's life, toddler development

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cmjaz cmjaz

Hey, it might be a good thing to buy it now. Much more expensive 16 years down the road. Smart mother

Erinly Erinly

I agree 100% with cmjaz; while this may seem a bit extreme, the market is still in a great place for purchasing. Even if her daughter doesn't go to school in NY, it will make a great investment and probably maker her a lot of money in 16 years if she chooses to sell it.

amazz... amazzonia

If you have the money an apartment in ny is a really good investment!

Kami McManus

college or not, most of the time real estate is a decent investment...so 16 yrs from now if the kid doesn't go, sell it and with any luck she could make some money and even once it is built...rent it out and make money now...


 

maidj... maidjillian

Sounds like a tax dodge to me, but whatever.  I'm sure we would all do the same thing if we could!

Shawna Mathews

Until her daughter is old enough to go to those colleges I dont mind apartment sitting for her!!!

Dawn Smith

ummmmmmmmmmmm if  she can afford that apartment she will just buy her daughter way into college and probably her grades too

candy... candyw210

Who cares if she bought her daughter an apartment. She has the money to do it, so why not.

Laurie Whelan

Buying investment property is NEVER a bad idea. So much could be done with it in the next 16 years. Rent it for one, and if her daughter decides to not go to college then she will have a swanky pad to hang in. The arguments against this seem invalid to me, even if the mom seems a bit indulgent, it was truly not a bad investment. So an entire article slamming the mom for her brilliance in capital venture, regardless of her motivation, seems invalid. Of course, that is just my opinion. 

Meghan Paige

Personally if I had that kind of money, I would opt to purchase a house, not an apartment. I get the whole college thing blah blah, and what not. However, if they have that type of money then hiring a driver to get her everywhere shouldn't be an issue either. I don't think it's a bad thing that she's investing in her daughter's future, but I think that amount of money is a bit excessive for the first time around.

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