(Photo: Hannah Whitaker/New York Magazine)

Nathan Serphos
Fashion Executive
Is giving up his rent-stabilized Upper East Side apartment to buy one a block away.

Why didn’t you buy a year or two ago?
The prices were getting way too high. I was waiting for the market to correct. You just look at all the cycles, and at some point you know it will happen. I was getting anxious, though, because prices kept going up. I was jealous of the Wall Street types who were getting the million-plus bonuses just jumping in and buying whatever they wanted. When the Lehman thing happened, I said, Wow, this might be my opportunity.

Having just bought, are you nervous?
I have to tell you—I’m petrified, to be honest. I had dinner with friends and I think I had an anxiety attack. Today, we locked in the price, and my mortgage broker went through all the fees….

So why do it now?
I feel like it’s a grown- up thing to do. I don’t need to move— I have a rent-stabilized place. But I want a new kitchen, a new bathroom, something that’s mine.