When he says “historic”, the bank thinks “decrepit.” Unless they building is the Empire State Building, age hurts value. Seriously, the fact that he had the ca

When he says “historic”, the bank thinks “decrepit.” Unless they building is the Empire State Building, age hurts value. Seriously, the fact that he had the cash to buy the buildings but needs a line of credit against them to develop them tells me that the value of the buildings was quite low to begin with.