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stacksatsio | 9 months ago (raw) | root | parent | reply | flag +2 
 This was likely either a Developer who will put 4 townhouses on the block and sell them for $2M a pop or a Chinese buyer who paid cash. 

Not even the top 1% can afford a $30k per month mortgage. https://i.nostr.build/zVyY.png
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TheBitcoinManual | 9 months ago (raw) | root | parent | reply | flag +1 
 So no one actually lives in them then? I've heard most Chinese investors don't want to bother renting it out, they just want to park money that would otherwise have been lost to the CCP so better off pumping real estate in the anglosphere.
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stacksatsio | 9 months ago (raw) | root | parent | reply | flag +1 
 Correct no-one will be living in this house.

Either a developer will knockdown and build to sell, or the Chinese will hold and maybe knockdown-build a McMansion but whoever dropped $4.7 million on this old shack guaranteed will not be occupying it.