clock menu more-arrow no yes mobile

Filed under:

Comment of the Day

New, 4 comments

"I think they will put up more money. They sold their office product at the top and have put it one of the best performing asset classes out there - sure it's lost value, but what hasn't - and sure they will lose all of their initial investment, but they have a foot in the door. I think we see them put up more cash in return for a bigger piece of the profits. The real losers on this deal are going to be the lenders who will have to restructure the debt and ultimately will have to give the Speyers a better deal (and of course the illegal tenants who lost their cheap apartment)." [Stuy Town Follies: 'What the Hell Were These Guys Thinking?']