How do these numbers make sense?

[Jack K.]

I came across a rental listing at 713 Lexington Ave. Brooklyn, NY. This place https://www.zillow.com/homedetails/713-Lexington-Ave-Brooklyn-NY-11221/30602984_zpid/ was sold at $1.5M a year ago, but the rent asking price is for $2,950 today http://www.bedfordbrownstone.com/PropertyDetails?i... . 

How do those numbers make any sense? Why would anyone want to go in on this deal? That is not nearly enough to cover a $1.5M mortgage and if it was paid all cash it doesn't nearly return enough money per year to be worth it

...am I missing something?