A 20 story tower in San Francisco valued at $320 million dollars went up for auction

X ^ | 04/27/2026 | Wall Street Apes

[SmokingJoe]

A 20 story tower in San Francisco valued at $320 million dollars went up for auction

There wasn’t a single bidder. Not even for $1

The property is now vacant, because no one wants to make the investment in Democrat run San Francisco

High crime rates and homelessness are cited reasons for office buildings like this to not see purchasers

Bidding for the property started at $80 million, but no offers. A massive decline in value

WeWork used to be a major tenant occupying nearly 200,000 sq ft in this same building

[bk1000]

“The building was “valued” at $320 million was for borrowing against it as part of money laundering through real estate.”

Isn’t that what that hag in NY tried to lock up Trump for?

[ptsal]

Messed up city

[T.B. Yoits]

Detroit used to be the richest city in the World. Then, one day, rather surprisingly, they elected a Democratic mayor. They never elected Republican mayor again and the city started long downward slide!

Detroit was limited from the day it was founded and it had nothing to do with Democrat vs Republican. It inevitably had to shrink in the size of industry and population that be supported there.

Detroit is an inland port and once the size of ships increased to where they could not traverse the locks and canals of the St. Lawrence seaway to the Atlantic Ocean, the city, like the other Great Lakes cities both American and Canadian, could not compete in manufacturing with other locations around the world.

The costs to widen parts of the seaway and excavate it deeper, as well as replace the locks, would never be recouped.

San Francisco is in the same position. The port is too small for the current generation of ships. Instead, the ships port in Long Beach and Seattle/Tacoma. (Ships exceeded the size of the Columbia River to Portland, Oregon in 2015).

[dfwgator]

Detroit used to be the richest city in the World.

---

And the Lions were winning NFL Titles.

[AZJeep]

Then, how do you explain the ring of thriving suburbs surrounding Detroit on all sides, while the city is mostly empty, except for some crumbling structures here and there!

[T.B. Yoits]

Then, how do you explain the ring of thriving suburbs surrounding Detroit on all sides...

???

Those suburbs still have functions that are not involved in shipping via the St. Lawrence Seaway.

What industry would move into downtown Detroit that didn't require port access? Gambling? Entertainment? Healthcare? Education?

[minnesota_bound]

The company I last worked at closed their 2 story office building. About 300 people had worked there prior to the scamdemic. Now empty with most people fired and some depts working from home.