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These headlines happen literally weekly, with front-page articles happening monthly, and the gimmick is always the same: the building comes with debt or other f
by 55555 2y ago
These headlines happen literally weekly, with front-page articles happening monthly, and the gimmick is always the same: the building comes with debt or other financial arrangements with a negative value. In this case, "The auction was for the building itself, not the land. That is owned by a publicly traded real estate firm, which collects a monthly lease. But the rent from the building’s current tenants is not enough to cover those monthly payments, which are set to increase every five years and do not expire until 2123. ..."