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Fire Sale: $300 Million San Francisco Office Tower, Mostly Empty. Open to Offers.
wsj.com ^ | 04.27.2023 | Peter Grant and Jim Carlton

Posted on 04/27/2023 2:36:54 PM PDT by rxsid

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To: George from New England
"And this isn’t even the frisco skyscraper that’s leaning over !
I wouldn’t even give a $1 for that timebomb.
"

Better than average chance that one day, in the not too distant future, that catastrophe in waiting will be on the news for a week.

San Francisco’s Luxurious New Skyscraper Is Tilting 26 Inches
"The 645-foot-tall Millennium Tower will continue tilting at a rate of three inches per year, and has already sunk between 17 and 18 inches into the ground."

21 posted on 04/27/2023 3:04:02 PM PDT by rxsid (HOW CAN A NATURAL BORN CITIZEN'S STATUS BE "GOVERNED" BY GREAT BRITAIN? - Leo Donofrio (2009))
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To: rxsid

How much will they pay me to take it?


22 posted on 04/27/2023 3:05:26 PM PDT by Fai Mao (Starve the beast and steal its food!)
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To: fretzer

It’s not worth one dollar. You’ll be taking on the tax liability, and that liability will be based on when it was assessed for $300 million.


23 posted on 04/27/2023 3:05:37 PM PDT by Boogieman
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To: rxsid

Hey, maybe it will stabilize at some jaunty angle and SF can market it as a tourist attraction like Pisa did.


24 posted on 04/27/2023 3:06:35 PM PDT by Boogieman
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To: rxsid

They will take all the commercial office buildings and turn them into housing. Then they will force all the people in rural and suburban areas into those high-rise apartments. Its he plan.


25 posted on 04/27/2023 3:06:50 PM PDT by vivenne
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To: fretzer
>Open to Offers.

$1

Consider the property taxes in San Francisco.

It is 1.8% of the value. Maybe you can convince them the value is $1...

26 posted on 04/27/2023 3:07:29 PM PDT by marktwain
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To: rxsid

If the price drops low enough, don’t be surprised if the city buys it and uses the empty offices as public toilets - after all, I remember a story on the SF city council approving a contract for a single public restroom at a cost of $1.7 million.


27 posted on 04/27/2023 3:08:41 PM PDT by Stosh
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To: rxsid

They should install some bouncers, like that other lean to did, in order to address that issue.


     

28 posted on 04/27/2023 3:10:54 PM PDT by Songcraft
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Comment #29 Removed by Moderator

To: rxsid
"Open to Offers."

And drug-addled transients looking for a crash pad.

30 posted on 04/27/2023 3:14:13 PM PDT by fwdude (Society has been fully polarized now, and you have to decide on which pole you want to be found.)
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To: fretzer

They are expecting 60 million?

Sounds high.


31 posted on 04/27/2023 3:16:06 PM PDT by Chickensoup (Genocide is here. Leftist extremists are spearhheading the Genocide against conservatives. )
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To: ConservativeDude
Normally, you would say the San Francisco real estate market will bounce back… But I’m not so sure now

The bat-shit insane, worse-than-radical left has now gained critical mass in the bluest areas of the country, and in many red areas as well. They will never relinquish their power as they destroy society. They are the modern day Nero.

32 posted on 04/27/2023 3:16:18 PM PDT by fwdude (Society has been fully polarized now, and you have to decide on which pole you want to be found.)
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To: Boogieman

Probably true.

Scrap it, sell the metal.


33 posted on 04/27/2023 3:17:42 PM PDT by fretzer
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To: rxsid

The state of CA should buy it and fill it with the homeless.

They will then burn it to the ground within two months.


34 posted on 04/27/2023 3:19:49 PM PDT by Gnome1949
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To: rxsid

Do not trouble our tenants and guests.

new Chinese mobster owner


35 posted on 04/27/2023 3:21:13 PM PDT by Brian Griffin
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To: rxsid

Make it into a homeless shelter and soup kitchen. About all it’s good for now.


36 posted on 04/27/2023 3:21:38 PM PDT by Eleutheria5 (Every Goliath has his David. )
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To: rxsid

I never believe occupancy stats. My former town I would see tons of empty space walking down town. The stat released was 6% vacancy which I think is total BS. The city down town is booming as far as population but retailers just cannot afford to locate down town. Not only that but you have crazies yelling at the top of their lungs and stupid new bike lanes.


37 posted on 04/27/2023 3:22:39 PM PDT by Sam Gamgee
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To: Governor Dinwiddie

No need for outsiders to torch it. The homeless will take care of that on their own.


38 posted on 04/27/2023 3:23:23 PM PDT by Gnome1949
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To: rxsid

https://abc7news.com/san-francisco-presidio-renting-apartment-in-federal-government-rules-apply-local-laws-dont-sf/3700607/


39 posted on 04/27/2023 3:24:51 PM PDT by Brian Griffin
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To: devane617

Yes where I lived they tried a dollar store downtown only to close it a year after. Was a strange move going downtown as dollar stores usually locate where rents are cheap. I think it couldn’t make largely due to shoplifting. No one wants to work the dollar stores either. Even in the small town I am in now, there is often just one cashier in the entire store as they can’t get staff.


40 posted on 04/27/2023 3:25:16 PM PDT by Sam Gamgee
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