I have assets that will continue to supply revenue for as long as I have them. But I can’t sell them for the equivalent of the long-term revenue they’re worth. That’s the problem with rental property. This is the problem anyone with rentals face whether in NY or anywhere. So, make five hundred million now, or two billion over the next twenty years...
Well at the rate of the Dollar is in a death spiral I am not sure it will matter long term and being NY is bankrupt any value will be lost at some point anyway.
“for as long as I have them”
That, my Fine Feathered Friend, is the crux of the matter.
Lots of ways The People’s Republic of New York can take stuff, and leave you with no nada.
So, in practice, its good to dump it all and just leave places like NYC to the Animals.
Don’t believe any of the talking heads, and their Sunk Cost Fever Dreams.
There’ll be no recovery of any kind for generations.
I’d settle for the five hundred :) Sell now and avoid the inheritance tax headaches for your heirs.