1) Derek lives in a house on Long Island.
2) A 900 square foot two-bedroom condo in that building would run more than 750k.
3) Free market rent for that building would be at least $2300/month for an apartment of that nature.
4) 9/10 families in this country could not afford to live in that "shithole".
5) No graffiti there.
6) Because of it's proximity to Times Square, one could sublet the apartment for New Years Eve week for $5,000.
7) The apartment that is worth 750k today sold for $215,000 in 1999. So the "idiot" that bought that "shithole" can basically move anywhere in the country and buy a $500,000 house free and clear. Which means a nice house anywhere other than NY, LA or SF.

When 2012 destroys NYC, the owner of that unit will be the first one in the Lincoln Tunnel and out of NYC.
9) 15 Minutes to IKEA. 1 block to McDonalds. Free appetizers daily at Flashdancers happy hour.
10) Walk to Port Authority to catch bus to LA to train at Mecca.
10)