I’ll add it to the things I pretend to care about
That firm paid about $6 million dollars too much for a white elephant.
Prince and Kirby Puckett.
That’s unbelievable!!!
Maybe they can use it for organizing.
Isn’t Minneapolis where the Black Muslim cop shot the innocent white lady from Australia and was sentenced to less than 5 years in prison and has been back out on the streets for over a year now after this cold blooding shooting.
A city where it’s not safe to be white.
They all need to purify themselves in the waters of Lake Minnetonka....and never come back up.
Article:
“value of commercial real estate declines by 97%”
This is what Democrat “progress” looks like...
How to finance = raise taxes on those that are left.
Everything the left touches turns to Dorkbamastuff. It is an ironclad rule that never has, and never will, be proved wrong. The left is the enemy. Treat them as such.
At the right prices, things work again. I suspect it cashflows for them on day one. They have everything lined up.
Rather than dealing with the city’s profound and possibly insoluble problems, Minneapolis’s City Council has just collaborated in an attempt to subject its police department to supervision by the Department of Justice, which, if approved–a big “if”–will subject law enforcement to more limitations that will further elevate the city’s crime rate. Like a number of other blue cities, Minneapolis needs a drastic change in leadership, but there is no sign that such reform is on the horizon.
I think the city is in a death spiral and confirms that local elections are important. Is it just me, or do most of the cities that are in trouble all seem to have Democrat mayors?
So how will the city run its bloated, woke bureaucracy? yes, Higher taxes - but then citizens will flee.
So they will get state aid, and above all, rely on Federal aid. This is what Congressional democrat "stimulus" and various omnibus bills are all about - constantly funding and bailing out their left-wing political bases, with printed money and massive debt.
The industry as a whole greatly benefited from this re-entrenchment, as did consumers of electric power. Fortunes will be made in Minneapolis real estate if and when rational local government is re-established. Imagine, someone built and got financing for that $200 million building, and someone else acquired it for a paltry $6.5 million. If that building is ever filled, the new owner will be in an enviable situation.
Now remember, onward investors gets a fee for putting the deal together. They may be investors too. And there was much more going on than the 6.5 million purchase price.
Detroit in the making.
Less than $200,000 per story. And it is not tilting like those in SF.
$6M for a 31 story downtown building. Brutal. Those are Mogadishu prices.
Not a lot of desire to be in downtown Mogadishu-North