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A comment on 23-Floor Manhattan Office Building Just Sold at a 97.5% Discount. Parent comment

Re:23-Floor Manhattan Office Building Just Sold at a 97.5% D... by choilive on Friday August 09, 2024 @07:07PM (#41206104)
For many reasons this is very difficult and expensive.
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Re:23-Floor Manhattan Office Building Just Sold at a 97.5% D... by trog on Saturday August 10, 2024 @04:23AM (#41208114)
Is it more difficult and expensive than finding new land on which to build new residential buildings in Manhattan?
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Re:23-Floor Manhattan Office Building Just Sold at a 97.5% D... by choilive on Sunday August 11, 2024 @05:47PM (#41219533)
No, because that is impossible since all the land is spoken for. But its so difficult and expensive that it is almost always uneconomical. i.e. you will never make the money back or the yield is so low might as well park it in bonds.
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