New Basis, New Rents
October 23, 2009
Tweet Following a Harry Macklowe gamble that went south, George Comfort & Sons picked up Manhattan’s Worldwide Plaza for about $600M, 60% below what Macklowe had paid for the asset $1.7B for the asset just 2 years earlier. What’s more is that Deutsche carried back 80% on the new purchase as well. But now that [...]
Read More >>If New York is a Leading Indicator…
December 10, 2008
Tweet New York is, if nothing else, a psychological benchmark and leading indicator for a lot of people when it comes to analyzing the state of the real estate market. TRD is reporting that prices are being slashed for trophy assets, and there is still trouble in finding buyers. According to the article in TRD, [...]
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