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High rise office building in Fort Worth sells at foreclosure auction for $12.3 Million
Posted on 5/10/24 at 10:12 am
Posted on 5/10/24 at 10:12 am
18
Posted on 5/10/24 at 10:14 am to TigerB8
Ugly arse building.
Posted on 5/10/24 at 10:15 am to TigerB8
you can fit a lot of illegals in there
Posted on 5/10/24 at 10:20 am to TigerB8
No indication of who the buyer was?
Posted on 5/10/24 at 10:32 am to TigerB8
The architect who designed that should be shot.
Posted on 5/10/24 at 10:39 am to TigerB8
mortgage holder may have bought it back in.
mortgage could have been a lot higher and nobody bid because they knew how high the mortgagee was going to.
mortgage could have been a lot higher and nobody bid because they knew how high the mortgagee was going to.
Posted on 5/10/24 at 10:40 am to TigerB8
i think i saw this building in the judge dredd reboot.
Posted on 5/10/24 at 10:54 am to TigerB8
It looks like it belongs on Texas A&M's campus.
Posted on 5/10/24 at 11:00 am to TigerB8
The real cost of that building would be maintaining it and paying the property taxes. I can't imagine what a nightmare it would be to own that building unoccupied.
Posted on 5/10/24 at 11:03 am to TigerB8
This is about to happen in more places than Fort Worth.
Grab your nuts guys.
Grab your nuts guys.
Posted on 5/10/24 at 11:07 am to TigerB8
Illegals are like...
This post was edited on 5/10/24 at 11:11 am
Posted on 5/10/24 at 11:09 am to TigerB8
Why all the low balling?
Posted on 5/10/24 at 11:13 am to TigerB8
Really nothing special about this foreclosure sell. The bank who loaned the group the money to buy it had to foreclose on the loan. There are really big companies leasing space in it. The inside is way nicer than the outside. The company that lost it was doing renovations but quit paying their contractors. This is the second building Pinnacle took back from the same group.
Posted on 5/10/24 at 12:38 pm to TigerB8
Second tallest building in St. Louis sold for $3.6 million
LINK
quote:
The 44-story high-rise, totaling 1.46 million square feet, was purchased by Boston-based Goldman Group for just $3.6 million, a significant drop from the $205 million it sold for in 2006. This stark decline in value reflects the lower demand for office space in the area.
LINK
Posted on 5/10/24 at 12:49 pm to TigerB8
The politicos create "opportunities" and their rich friends take advantage.
Free markets are not at work here.
Free markets are not at work here.
Posted on 5/10/24 at 1:04 pm to TigerB8
Commercial real estate is fricked, that is why there is such a big top down push to end work from home because either these buildings get filled or the economy will crash.
Posted on 5/10/24 at 2:10 pm to TigerB8
High rise commercial real estate is a tough sell these days, especially when the building is very ugly and very dated, like this one.
Plaza Tower in Nola says hold my beer.
Plaza Tower in Nola says hold my beer.
Posted on 5/10/24 at 2:37 pm to TigerB8
Looks.like something from the Soviet Union
Posted on 5/10/24 at 2:40 pm to TigerB8
It's not a market sale if the lender is the entity that buys it back. Their is a lot that goes into that consideration such as the lines and debt a buyer would assume had the purchase the building. With the lender purchasing the property it wipes out almost all private liens and debts so it can now be sold at true market value.
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