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SF office sells for a 90% discount from 2016 price
- spxneo 3y agotypically residential real estate trails commercial but this does not seem like the bottom i do wonder if you can turn this into a residential unit? if not could you create a company and just live inside it?
- gigel82 3y ago6.5 million for a 16-story building in SF? Holy crap, that's actually an amazing price - 5 times the median price of a home in SF. You can split it up with 4 friends and have 3 floors each... plus a commercial front street level.
- brutus1213 3y agoI didn't see the 6.5 million figure in the article. Did I miss it? I wonder if part of the issue is no bank is willing to finance such a deal (given cashflow doesn't make sense with such a low prevailing vacancy rate). I've heard of large firms stop making payment on commercial real-estate. How the heck does this work? If a regular person would do that on a mortgage, their credit would be destroyed. So you would still possibly make payments in hope of saving credit (although California is no recourse so not sure if that makes a difference; new york is not and companies are also stopping payments on properties there). Anyone have an explanation?