Office Landlords Use Cash Gifts, Loans to Inflate Building Values

Re:Office Landlords Use Cash Gifts, Loans to Inflate Buildin... by aetherspawn on Monday January 22, 2024 @03:58PM (#39095349)

Commercial realestate is ridiculous right now.

I have no idea how most shops are profitable when they are paying $3k+ per month, either for a run down shopfront in a non-prime location, or for a 100m2 office.

I’m going to also blame VC money on inflating the price of everything and making it difficult to afford to do profitable tech business at local scale. That’s my theory anyway.

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Re:Office Landlords Use Cash Gifts, Loans to Inflate Buildin... by crmd on Monday January 22, 2024 @04:32PM (#39095769)

My corner bodega in a non-posh neighborhood in Brooklyn is paying $5550/month rent for a 750 square foot space. That means having to sell approx 45 packs of cigarettes smuggled up from Georgia per day just to pay rent. I don't know how they do it.

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Re:Office Landlords Use Cash Gifts, Loans to Inflate Buildin... by hnu234 on Monday January 22, 2024 @08:04PM (#39097984)

> That means having to sell approx 45 packs of cigarettes smuggled up from Georgia per day just to pay rent.

It's the goods morons buy along with the cigarettes that is the real money maker. Like overpriced soda, chips, tiny bottles of liquors, etc. As long as it gets the foot traffic, making money shouldn't be a problem. Or it could be a money laundering operation.

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Re:Office Landlords Use Cash Gifts, Loans to Inflate Buildin... by killingtime74 on Monday January 22, 2024 @05:21PM (#39096331)

Many small businesses do it by using family members as labor (or themselves) and not paying minimum wage.

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Re:Office Landlords Use Cash Gifts, Loans to Inflate Buildin... by alephnerd on Monday January 22, 2024 @07:25PM (#39097604)

> I don't know how they do it

I think you answered it

> That means having to sell approx 45 packs of cigarettes smuggled up from Georgia per day

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Re:Office Landlords Use Cash Gifts, Loans to Inflate Buildin... by DANmode on Tuesday January 23, 2024 @05:53PM (#39111121)

Packs, or cartons?

Either way, thanks for an actual LOL.

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Re:Office Landlords Use Cash Gifts, Loans to Inflate Buildin... by bsder on Monday January 22, 2024 @04:57PM (#39096069)

Residential is ridiculous, too.

In Austin, I'm starting to see things like "2 months free". They'll do ANYTHING to avoid actually--you know--lowering the damn rent.

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Re:Office Landlords Use Cash Gifts, Loans to Inflate Buildin... by gloryjulio on Tuesday January 23, 2024 @12:28PM (#39106511)

The thing about residential is that, you can't move the activity online. There is e-commerce, but there is no e-residential

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