These prices are all well and good - but they don't account for the fact that this building is still under 15% sold. Unless they get the numbers up to where an owner can re-fi or sell (75% sold), buyers are basically getting an illiquid asset with a strong possibility that it could take years to make the building viable.
These prices are all well and good - but they don't account for the fact that this building is still under 15% sold. Unless they get the numbers up to where an owner can re-fi or sell (75% sold), buyers are basically getting an illiquid asset with a strong possibility that it could take years to make the building viable.
Posted by: FlowerGal at May 7, 2009 9:39 AM in response to Rentals, Price Cuts and Loan Extension at 1BBP