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A comment on NYC Skyscrapers Sit Vacant, Exposing Risk City Never Predicted. Parent comment

Re:NYC Skyscrapers Sit Vacant, Exposing Risk City Never Pred... by hedora on Thursday May 18, 2023 @11:58AM (#35989886)
Negative value isn't really possible in this scenario. I'll buy a floor of one of these buildings for $1, and promise to pay for its upkeep.

I'm sure I can find someone willing to rent a 10,000+s.f. downtown manhattan apartment for more than the cost of maintenance (and the property tax on the $1 the floor of the building is apparently worth).

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Re:NYC Skyscrapers Sit Vacant, Exposing Risk City Never Pred... by mkmk on Thursday May 18, 2023 @07:12PM (#35995604)
Will you also take on the debt payments?
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Re:NYC Skyscrapers Sit Vacant, Exposing Risk City Never Pred... by kgwgk on Friday May 19, 2023 @02:25AM (#35998466)
> prices that valued the _ structures_ as having negative value

You are ready to pay $1 for a floor in the structure and how many millions for your share of the plot?

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Re:NYC Skyscrapers Sit Vacant, Exposing Risk City Never Pred... by nocoiner on Friday May 19, 2023 @09:27AM (#36001670)
Pinky swear you’ll pay for the upkeep, all of it? It’s not just day-to-day maintenance (which I promise costs more than you’d expect) but also long-term building integrity and lifespan assurance.

There are about 100 condo residents in Miami who kicked that can down the road to disastrous consequences and paid with their lives.

Plus, negative value to equity is absolutely possible in this scenario. Let me how far you get in the commercial real estate world without signing a personal guaranty.

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