Bank won’t care about blame-game...there’s virtually no one with ample cash to buy what they are stuck with. Even if it were a candidate for converting to studio apartments...the downsizing of the job-market in SF is blocking future re-use.
I’ll predict the city buys it...converts to a homeless shelter, and within ten years has it condemned as a toxic waste dump.
Blackrock
House the illegals and get Uncle Sugar to pay for it.
EC
“I’ll predict the city buys it...converts to a homeless shelter, and within ten years has it condemned as a toxic waste dump.”
Even though it’s well under a day’s worth of Migrants, my money is that they fill it with Migrants.
But, ironically, the Migrants will likely demand to return home once they step outside in SF.
REITs are going to crash.the one I was offered a few years ago was the foolproof land under city pharmacies
....
Yeah No.
Or, the city merely takes over the hotel for the unpaid back taxes. The city unpaid taxes probably have more senior standing to the banks mortgages.
