4 ms·

But she is going to rent it out, eventually. > The shop closed two years ago. Since her father died, > the factory space is Ms. Galuppo’s to use as she

But she is going to rent it out, eventually. > The shop closed two years ago. Since her father died, > the factory space is Ms. Galuppo’s to use as she wishes, > but she is not rushing to rent it out. Before seeking a > new commercial tenant, she wants to find the right way > to dispose of all the old equipment, file cabinets and > other workplace detritus. This person just wants to move on her own timeline. That's perfectly fine. The family must be pretty flush to be able to do that however. What would be bad is allowing the space to disintegrate like what happens in many other cities.

onetimemanytime 8y ago
Plus is not like Manhattan land is going to drop in value any time soon. That's like money in the bank...unless NY decides to make them a landmark site. For all we know they are seeking partners by saying we don't want to sell. This article was probably pitched
- zone411 8y ago
  The land prices in Manhattan have cooled down somewhat in the last couple of years. They are now at the 2015 level (https://therealdeal.com/issues_articles/new-york-city-land-prices/ https://therealdeal.com/issues_articles/new-york-city-land-p...), so actually down a bit if counting inflation.
  - mertd 8y ago
    Do the percent fluctuations really matter if the final amount is still an absurd amount to the seller?
    - wolco 8y ago
      Yes by waiting a few years the money will double.
Technetium_Hat 8y ago
Please do not use code blocks for quotes. They are very hard to read on mobile.
- stochastic_monk 8y ago
  This is a great point and I experience the same issue. Quote, don’t code block.
dashmatte 8y ago
The building will be knocked down anyway if she sells to developers. Probably why shes taking her time with this.
evanelias 8y ago
This wasn't clear in the article, but it appears the factory does not occupy the entire building, and several floors are already rented as office space [1] [2]. Makes sense, given the property tax bill is apparently $283,000 per year! [3] [1] https://commercialobserver.com/2017/07/marketing-agency-prodject-relocates-within-noho/ https://commercialobserver.com/2017/07/marketing-agency-prod... [2] https://www.pivotdesk.com/locations/us/ny/new-york-city/42-bond-street--6th-floor https://www.pivotdesk.com/locations/us/ny/new-york-city/42-b... [3] https://webapps.nyc.gov/CICS/fin1/find001i https://webapps.nyc.gov/CICS/fin1/find001i
LifeLiverTransp 8y ago
Its important that some robber baron from a country far away can get some condos to be left empty as investment in a dead city core. Horray for capitalism ghost towns. Compared to that the waste-tales of socialism start to sound more idyllic every day.

onetimemanytime 8y ago

Plus is not like Manhattan land is going to drop in value any time soon. That's like money in the bank...unless NY decides to make them a landmark site. For all we know they are seeking partners by saying we don't want to sell. This article was probably pitched

zone411 8y ago
The land prices in Manhattan have cooled down somewhat in the last couple of years. They are now at the 2015 level (https://therealdeal.com/issues_articles/new-york-city-land-prices/ https://therealdeal.com/issues_articles/new-york-city-land-p...), so actually down a bit if counting inflation.
- mertd 8y ago
  Do the percent fluctuations really matter if the final amount is still an absurd amount to the seller?
  - wolco 8y ago
    Yes by waiting a few years the money will double.

Technetium_Hat 8y ago

Please do not use code blocks for quotes. They are very hard to read on mobile.

stochastic_monk 8y ago
This is a great point and I experience the same issue. Quote, don’t code block.

dashmatte 8y ago

The building will be knocked down anyway if she sells to developers. Probably why shes taking her time with this.

evanelias 8y ago

This wasn't clear in the article, but it appears the factory does not occupy the entire building, and several floors are already rented as office space [1] [2]. Makes sense, given the property tax bill is apparently $283,000 per year! [3] [1] https://commercialobserver.com/2017/07/marketing-agency-prodject-relocates-within-noho/ https://commercialobserver.com/2017/07/marketing-agency-prod... [2] https://www.pivotdesk.com/locations/us/ny/new-york-city/42-bond-street--6th-floor https://www.pivotdesk.com/locations/us/ny/new-york-city/42-b... [3] https://webapps.nyc.gov/CICS/fin1/find001i https://webapps.nyc.gov/CICS/fin1/find001i

LifeLiverTransp 8y ago

Its important that some robber baron from a country far away can get some condos to be left empty as investment in a dead city core. Horray for capitalism ghost towns. Compared to that the waste-tales of socialism start to sound more idyllic every day.