I can’t find it but @GoodGuyGuaranty had a criminally underrated tweet about bread lines forming during zohran admin (radio bakery) which I would like to append here. that was a bar
@antonia_mdprjct@hitsamty@Jefffeldman I’m responding to your tweet below.
I would contend there are many groups with the capital to do this at a low basis.
Sry if I am misreading
@Jefffeldman@hitsamty Even at a low basis, that’s 1.4million SF to renovate.
Only 2-3 people in NY have the juice to do that, and for that price tag, I’d guess they would probably spend all that dough somewhere else.
@antonia_mdprjct@hitsamty@Jefffeldman There are like 50 ppl who could do a 1.4m sf office building here. I am talking lps. Easy check to cut (today) if nums are right.
Fewer gps but plenty of those too, who want to fee the thing and put on website.
I agree w you on shining a sneaker quality wise. But NY is liquid
@AndyMasley@alexolegimas we’re approaching the apex of the subway take backlash where it’s cool to dunk on subway takes and what it means for society (it’s an obviously uncool thing…. But it always was)
@GoodGuyGuaranty@aarmlovi@drorpoleg good news is you dunked on a pol. bad news is you are right.
How does one get comfortable with multi in nyc ? Ain’t no way market is pricing in this downside. If anything, seems priced like scotus has already intervened for LL benefit