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Park ave sale

Started by sam12
about 17 years ago
Posts: 10
Member since: Jun 2009
Discussion about
I guess high end sales are still happening and with some profit. http://online.wsj.com/article/SB10001424052970204683204574358620564954650.html#project%3DSLIDESHOW08%26s%3DSB10001424052970204884404574362782656174814%26articleTabs%3Darticle
Response by princetonbabe
about 17 years ago
Posts: 115
Member since: Jan 2009

I would speculate that there was very little to no profit on this sale--that "multi-million dollar renovation" was probably north of 2 million--I'm sure these people spent like drunken sailors.

Still, not a distressed sale either--they monetized this asset. Cash is king, especially if you're not sure if the regulators and legislators are done turning you over on the spit of public opinion.

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