Comments on: Commercial real estate datapoint of the day http://blogs.reuters.com/felix-salmon/2009/07/07/commercial-real-estate-datapoint-of-the-day/ A slice of lime in the soda Sat, 18 May 2013 23:43:55 +0000 hourly 1 http://wordpress.org/?v=3.4.2 By: peter http://blogs.reuters.com/felix-salmon/2009/07/07/commercial-real-estate-datapoint-of-the-day/comment-page-1/#comment-3860 peter Wed, 08 Jul 2009 13:21:57 +0000 http://blogs.reuters.com/felix-salmon/2009/07/07/commercial-real-estate-datapoint-of-the-day/#comment-3860 That\'s right, I forgot the retail ...actually Carlyle bought it last year for an even crazier amount: http://www.reuters.com/article/pressRelease/idUS125811+02-Jul-2008+BW20080702 That\’s right, I forgot the retail …actually Carlyle bought it last year for an even crazier amount:

http://www.reuters.com/article/pressRele ase/idUS125811+02-Jul-2008+BW20080702

]]> By: na http://blogs.reuters.com/felix-salmon/2009/07/07/commercial-real-estate-datapoint-of-the-day/comment-page-1/#comment-3859 na Wed, 08 Jul 2009 13:12:23 +0000 http://blogs.reuters.com/felix-salmon/2009/07/07/commercial-real-estate-datapoint-of-the-day/#comment-3859 666 fifth avenue is not a very useful comp. The fifth avenue retail was a significant component of that price. 666 fifth avenue is not a very useful comp. The fifth avenue retail was a significant component of that price.

]]> By: peter http://blogs.reuters.com/felix-salmon/2009/07/07/commercial-real-estate-datapoint-of-the-day/comment-page-1/#comment-3778 peter Tue, 07 Jul 2009 15:19:56 +0000 http://blogs.reuters.com/felix-salmon/2009/07/07/commercial-real-estate-datapoint-of-the-day/#comment-3778 666 Fifth is a much better location, so 70% may be a little steep. But that's not to dispute that there's been a truly massive drop. And good point about the vacancy; not only were in-place leases a big liability during 06/07, many sellers were deliberately not signing NEW leases at those peak rents, because they knew the marginal buyer would underwrite even higher rents if they left the space empty. 666 Fifth is a much better location, so 70% may be a little steep. But that’s not to dispute that there’s been a truly massive drop. And good point about the vacancy; not only were in-place leases a big liability during 06/07, many sellers were deliberately not signing NEW leases at those peak rents, because they knew the marginal buyer would underwrite even higher rents if they left the space empty.

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