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re: AT&T Building in St Louis Just Sold
Posted on 4/12/24 at 9:12 am to wareagle7298
Posted on 4/12/24 at 9:12 am to wareagle7298
Supposedly the debt was transferred as part of the sale AND it lost it’s parking garage, so it has no parking
1
Posted on 4/12/24 at 9:17 am to Aubie Spr96
I read Sharyl's book. wasn't it said an AT&T van was used to place spy equipment at her home?
hasn't it come out in the govt bunkers stories some areas say AT&T as a spook cover?
So Uncle C Eye Aye just bought this building?
Naaaah can't be. Biden is the best President we have ever had and our govt protects us.
hasn't it come out in the govt bunkers stories some areas say AT&T as a spook cover?
So Uncle C Eye Aye just bought this building?
Naaaah can't be. Biden is the best President we have ever had and our govt protects us.
This post was edited on 4/12/24 at 9:19 am
Posted on 4/12/24 at 9:23 am to Aubie Spr96
St. Louis AT&T
The block on which the long-vacant property sits was declared a blighted area by the St. Louis Planning Commission in 2023.
blighted = slum or hood
The block on which the long-vacant property sits was declared a blighted area by the St. Louis Planning Commission in 2023.
blighted = slum or hood
Posted on 4/12/24 at 9:31 am to Aubie Spr96
quote:
In 2006, it sold for $205 million.
Did someone overvalue it in 2006?
JK....
Commercial real estate has been going through a major transition for a very long time... Covid sped that transition up for many businesses and you throw in downtown St Louis and I really am not surprised with the price drop...
Posted on 4/12/24 at 9:35 am to Aubie Spr96
quote:
AT&T Tower in St. Louis has sold for $3.6 million.
quote:
In 2006, it sold for $205 million.
That's not ideal
Posted on 4/12/24 at 9:37 am to Aubie Spr96
Downtown Nola is going to feel it in 2025 and 26
Posted on 4/12/24 at 9:38 am to Captain Rumbeard
quote:
With huge upkeep
And very low occupancy.
Posted on 4/12/24 at 9:39 am to Man4others
quote:
Supposedly the debt was transferred as part of the sale
This is the answer right here. The listed sale price in inaccurate, due to the assumed debt.
Posted on 4/12/24 at 10:24 am to 1BIGTigerFan
It's been vacant for for years
Posted on 4/12/24 at 10:28 am to SlowFlowPro
I prefer having a dedicated office outside of my home to work in to separate location from my house chores and distractions. However, the flexibility of remote work is such a benefit. I like hybrid situations as they allow me to travel frequently without using my PTO, work from the road, but still have a home base when I want one. If I ever go back to full WFH, I’ll definitely have a dedicated home office I can lock myself in instead of having a desk in my bedroom or living room.
This post was edited on 4/12/24 at 10:31 am
Posted on 4/12/24 at 10:38 am to SlowFlowPro
quote:
AT&T had a parking garage partner. When AT&T left the building, the garage no longer wanted to partner with an empty building. So there’s just 44 spots in a small underground garage for a 44 story building.
This is a huge functional obsolescence for that property and is likely part of the huge value decline. That and the developer’s use change which would incur huge buildout costs to get it tenable.
Posted on 4/12/24 at 11:00 am to SlidellCajun
Downtown Nola doesn't have a high rise that modern and nice. And if it did it would be worth way more than that.
Posted on 4/12/24 at 11:04 am to Aubie Spr96
That was probably the sale price after the buyer assumed and payed all outstanding debts and taxes. So, more BS journalism.
Posted on 4/12/24 at 11:06 am to GumboPot
quote:
work form home and hybrid schedules
Can you imagine the price of gas if you put all those vehicles back on the road.
Posted on 4/12/24 at 11:11 am to Tall Tiger
quote:
Downtown Nola doesn't have a high rise that modern and nice. And if it did it would be worth way more than that.
What is it that makes that building more "modern and nice" than the 3-4 most "modern and nice" buildings in downtown NOLA?
I guess, I'm just trying to figure out what you're getting at, but I agree any similarly situated basically functional building in NOLA would be worth more. Of course, NOLA also has the Plaza Tower, which I think sold for something like half that, but is today likely not even worth that.
Posted on 4/12/24 at 4:21 pm to Aubie Spr96
When ATT had all those jobs still in St.Louis, and down town, it was perfect.
They moved a bunch of the jobs, and now they didnt need a 40 story building, No one needs it, especially considering a lot of business are moving to clayton and St.Louis County.
And with a large building, and no one wanting it, they are lucky they got the 3.6million.
I've been in it several times, when new, it was pretty cool for an office building, but it was always going to be an albatross when it became available, or if att moved. NO one would want that much space
They moved a bunch of the jobs, and now they didnt need a 40 story building, No one needs it, especially considering a lot of business are moving to clayton and St.Louis County.
And with a large building, and no one wanting it, they are lucky they got the 3.6million.
I've been in it several times, when new, it was pretty cool for an office building, but it was always going to be an albatross when it became available, or if att moved. NO one would want that much space
Posted on 4/12/24 at 5:25 pm to SeeeeK
quote:
No one wants a 40+ story building in downtown at.louis. They would rather go into a 10 story or less building in. Clayton or Chesterfield.
This. Why be in downtown Dallas, Houston, Atlanta, etc. when there are upscale suburbs with newer buildings and still plenty of restaurants and night life. Also, you get to dodge some of the homeless camps, and chances of getting mugged go down a great deal.
Posted on 4/12/24 at 6:04 pm to SlowFlowPro
Nobody lives in downtown STL, but it's still busy during the work week and when there is a ball-game.
Posted on 4/12/24 at 6:40 pm to GumboPot
quote:
These work form home and hybrid schedules are killing commercial office real estate.
When I have to go into the office, we're on one floor of a five-story building.
The other four floors are completely empty. And for the most part, so is ours.
Posted on 4/12/24 at 6:47 pm to SeeeeK
quote:
No one wants a 40+ story building in downtown at.louis.
IDK...sure could fit a lot of "newcomers" in there.
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