Quote:
Originally Posted by whitty
Fair, it’s an important distinction that these are fully excavated, sub structures built out to ground or above ground level, and there’s 2 tower cranes up. That’s a big difference. But as Oceanwide LA has shown... even in that state, it could be a while.
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The third crane for the Waldorf Astoria/Condo tower is still onsite (or it was back in late December). Both sites are ready to go above ground if a buyer could be found. The issue, to me, is Oceanwide's expectation it should be paid full price for it's botched project management. Oceanwide proceeded expecting it could cover costs through it's internal cash flow/assets and did not take into account China changing it's overseas investment policies in mid project. It's a sad site, but it is also an entitled site, so someone will want in at some point. All the design and engineering work is paid for, sooooo