Quote:
Originally Posted by chowhou
Everyone knows what you mean when you say, "under $1,000 per sqft seems like a very reasonable price in the current market."
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Well cbsvan and Warren seem to have understood, but you seem to have struggled. Let's not forget that this started when someone suggested that the residential units cost the City over $800,000 each, effectively discounting the value of the main floor commercial space. My statement was intended to clarify that the investment as a whole didn't seem to be a bad one.
So, for you, "The building is 40,817 sq ft. The City paid $38.5m, and got vacant possession of 46 rental apartments with a mix of unit sizes from studio to 2-bed and a leased commercial space. That's under $1,000 per sq ft for the building - which seems like a very reasonable price in the current market for both residential units and a pre-leased commercial space."