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The problem is that what is actually going on in NY - and many other markets - doesn't remotely resemble a properly functioning market: https://www.youtube.com/
by xmodem 6y ago
The problem is that what is actually going on in NY - and many other markets - doesn't remotely resemble a properly functioning market: https://www.youtube.com/watch?v=NdfmMB1E_qk https://www.youtube.com/watch?v=NdfmMB1E_qk
- DyslexicAtheist 6y agothanks that was interesting. tl;dr: 2 years free rent with the condition that the tenant doesn't ask for a lower price. due to language in the contract the rent can not go beyond a specific (low) value. the loan isn't held by the bank but immediately restructured and sold as a CMBS (https://en.wikipedia.org/wiki/Commercial_mortgage-backed_security https://en.wikipedia.org/wiki/Commercial_mortgage-backed_sec...) here is the reddit post that he recaps: https://www.reddit.com/r/nyc/comments/innhah/nearly_twothirds_of_new_york_restaurants_may_have/g4ai27m/?context=3 https://www.reddit.com/r/nyc/comments/innhah/nearly_twothird...