What kind of gifts did you get when you where a 2-year-old? Toys, stuffed animals, clothes? Did you ever get a $6.5 million dollar apartment in a high-rise in New York City? No? A New York real estate agent revealed that a Chinese mother bought her 2-year-old daughter a condominium in the Manhattan luxury high-rise, One57. The building wasn't even finished (and still is not) at the time of purchase.
Kevin Brown, a senior vice president at Sotheby's International, showed the buyer apartments all over Manhattan. The woman ended up buying a unit in the 90-story building, designed by a Pritzker Prize–winning architect. Not too shabby at all.
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The mother wasn't just throwing her money around, the reasoning behind the mother's purchase is that her daughter will likely attend Columbia, NYU, or perhaps Harvard, so it only makes sense that she be situated in the center of the city. Duh! That mother is just planning ahead. The extravagant purchase has been making headlines on China's CCTV.
It's no surprise that in a country like China with vast income inequality, that many are left wondering where the money could have possibly come from. Several left comments on Weibo, China's version of Twitter, suggesting that the woman must be related to a corrupt government official.
Regardless of where the money came from, let's examine the purchase, shall we? Is it ridiculous to buy a toddler real estate? Maybe, maybe not. I'm just sayin', I don't remember or have any of the gifts that I was given when I was 2, whereas the 2-year-old in question will be the owner of an apartment that will just keep increasing in value.
According to Brown, in just two years since the apartment was bought, it has increased in value by more than $2 million. That's gotta be a better return than buying savings bonds, right? Now, if I could just get my hands on the initial $6.5 million investment money, I could really set my toddler up to be with in commuting distance of her future college.
Image via Getty Images
