Old Bank @ the corner of 9th and Houston
Posted 30 October 2007 - 01:52 PM
Posted 30 October 2007 - 03:02 PM
Posted 30 October 2007 - 07:20 PM
Posted 22 January 2008 - 11:57 AM
Posted 22 January 2008 - 05:21 PM
How long does an owner have to sit on a property like that before he/she comes to the inevitable conclusion that their price is out of market? Why not rent it out on short-term leases to throw off some cash?
I'm sure I'll get the standard, snotty answer along the lines of "the owners are of sufficient means that a trifling $20K a month is not meaningful." But that doesn't hold water. I know plenty of people who own property like that and most of them would be rethinking their plan at this point.
Posted 23 January 2008 - 03:59 PM
As far as the old bank is concerned, however, I guess I can see the reasoning behind holding out for 20+ NNN in this market. There's got to be some bank somewhere that wants to break into the market that will see 20 bucks a foot as a bargain. Compared to what the dirt's going for underneath it, it is kind of a bargain. If I were a bank, I'd be on the phone right now. I wish I were a bank. In the meantime, I'm going to see who I know that's looking to expand their presence...
Posted 23 January 2008 - 04:52 PM
That wouldn't be the old Packard dealer on 7th next to the Firestone, the ground floor of which is home to some lovely vintage Alfa Romeos for no apparent reason, would it?
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