The Chrysler building in NYC was sold for only 150 million dollars, that seems like such a minuscule amount of money for a skyscraper in NYC,
There are probably millions of average multi-millionaires that could of bought that building, like any random tech or businessperson millionaire that you never even heard of
It just seems kind of weird that an iconic huge building in NYC could be bought by single person with not much money relatively speaking
If that is worth so little than how much is the average apartment building that you see everywhere in new York cost to buy?
There are some single apartments on billionaires row that cost a third or a quarter of that price, just for a single apartment,
Yeah, it is true they raised the land rent under the building, but still, seems cheap to buy
Sort: Top
[–] dontforgetaboutevil 0 points 1 point 1 point (+1|-0) ago
Who the fuck are you that 150 million is chump change?
[–] srgmpdns 0 points 2 points 2 points (+2|-0) ago
It is. A four-building complex in SF, the Embarcadero center, sold for 1,220 million... twenty years ago.
150 million makes me think there must be something seriously wrong with the building, the land alone is worth at least that much.
[–] anzel2002 [S] 0 points 2 points 2 points (+2|-0) ago
Not me, but there are millions of millionaires and thousands of billionaires that 150 million is chump change to
[–] MrPim ago
It's a very old building. Getting tenants is going to be difficult when they expect top of the line cutting edge tech capabilities. There may be structural issues we're unaware of, asbestos,lead paint... The building is iconic, but the price of a building is only the start of ownership costs.
[–] version7 ago (edited ago)
Many skyscrapers sell for far below market value. Some of that may have to do with the tax situation there etc.
[–] Bolux ago
Probably full of asbestos and half empty I'm sure they would bldg 7 it if they thought they could get away with it.
[–] R34p_Th3_Wh0r1w1nd ago
150M might look cheap, but does it need to be torn down? State of the building makes a huge difference. Especially in a shithole like NYC where everything costs at least 3x as much as anywhere else.