Quote:
Originally Posted by pspeid
Interesting! Does the former Sky City "developer" still own that site? I wonder if the asking price is considered fair market value?
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They turned down a cash offer a few months ago of $7,000,000 so the receiver thinks it’s worth more. ( I don’t ).
It would also mean the adjacent St. Regis site was sold for less per ft2. That comes back to my previous point the sale price / sold price was subsidized notwithstanding by some it was purchased at fair market value” and does not constitute a developer subsidy. Any one interested can review that animated discussion from time gone by.
The preamble though is really about the status of St Regis and the development agreement put into place. There really needs to be some disclosure by the government agency involved in the site as to its current status and time line.
Suddenly St Regis seems like a better play than Market Lands…
Go figure…