“For an office building, you can’t get a loan today…there’s no liquidity in the marketplace,” Gottlieb told Fortune. And with interest rates being higher, it’s eating away at a lot of the cash flow, Gottlieb said, calling it a “very trying time.”
In his view, the difference with this office real estate downturn as compared to previous downturns is that office owners are wondering if demand will ever return.
Crazy idea, but there's a huge demand for housing in a lot of these cities so why not convert some of this office space into housing? These people can't even capitalism right smh
You have to run all new plumbing, all new electrical hookups, all new hvac, all new internet solutions, all new gas lines if required, and probably a bunch of others Im forgetting right now. At that point, might as well knock down and build fresh.
so what I'm getting here is we raze the offices
That would literally be cheaper and better for society, its a win-win. Keep the new building out of landlord hands and we're golden