Mother Buys $6.5 Million Condo for 2-Year-Old

[Hum]

Talk about preparing for the future. A Chinese woman reportedly bought a $6.5 million Manhattan condo for her daughter ? who is now 2 years old ? according to China's state TV, CCTV.

The lucky toddler?s new condo is in the Park Hyatt-managed One57 tower, currently under construction. The building, at 157 W. 57th Street, will be one of New York's tallest skyscrapers when finished in 2013 at a height of 1,004 feet. The residences will sit atop the Park Hyatt hotel with floor-to-ceiling windows, high-end appliances and hotel amenities. One57 made headlines last October when Hurricane Sandy caused damage to a construction crane on the building, blocking access to the street for several days.

Kevin Brown, a senior vice president at Sotheby?s International Realty, told CCTV that he helped the woman look at various apartments in the city and asked why she was buying. ?And she said, well, her daughter was going to go to Columbia, or NYU, or maybe Harvard so she needed to be in the center of the city and that was why she was picking this one particular apartment,? Brown told CCTV. When she said her daughter was only two years old, Brown was shocked, he told CCTV. Both Sotheby?s and Brown declined to comment about the sale.

Needless to say, the daughter?s all set for housing for around 2029 when she?ll likely start freshman classes. (And no sharing a bathroom for her!) Although, if she ends up going to Harvard, that?s going to be a long commute?at least a 4-hour bus ride from Manhattan each way.

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[ILikeTobacco]

Considering the prices will be twice as high once the kid is actually old enough, I see nothing wrong here. In the meantime, she can rent out the apartment and a good chunk of change back.