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re: Portland's tallest skyscraper for sale for 80% less than it sold for 10 years ago
Posted on 5/27/25 at 4:27 pm to Chucktown_Badger
Posted on 5/27/25 at 4:27 pm to Chucktown_Badger
You get what you get when you do what you do.
0
Posted on 5/27/25 at 4:30 pm to Penrod
quote:
buy the building for $70 million (maybe $30 million in equity), then pay a secret security force to brutalize all homeless people within ten blocks of the building. Soon the homeless community would know to stay away from that part of town, and you could then start raising rent and filling that building again.
You're gonna need to ease south into Cali to find some gentlemen of Italian descent to do that for you. Portland doesn't have that kinda muscle any more.
Posted on 5/27/25 at 4:31 pm to UptownJoeBrown
quote:
Would buy. Slash rent to just cover maintenance costs and 20 year mortgage. In exchange for low rent, tenants must sign 20 year leases. I’m talking rock bottom rents. No profit. In 20 years, building is paid off. Walk away with at least 70 million.
A lot can happen in 20 years to make that bet.
Posted on 5/27/25 at 4:32 pm to Chucktown_Badger
quote:Fixed
The building, where tenants have complained in court papers about fentanyl smoke and human feces in public areas, is “a warning for what can happen to once-bustling downtowns if they get caught in the doom loop of Democrats,” the Journal said.
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