SF office sells for a 90% discount from 2016 price

sfgate.com

5 pointsnamanyayg3 comments

6.5 million for a 16-story building in SF? Holy crap, that's actually an amazing price - 5 times the median price of a home in SF.

You can split it up with 4 friends and have 3 floors each... plus a commercial front street level.

I didn't see the 6.5 million figure in the article. Did I miss it?

I wonder if part of the issue is no bank is willing to finance such a deal (given cashflow doesn't make sense with such a low prevailing vacancy rate).

I've heard of large firms stop making payment on commercial real-estate. How the heck does this work? If a regular person would do that on a mortgage, their credit would be destroyed. So you would still possibly make payments in hope of saving credit (although California is no recourse so not sure if that makes a difference; new york is not and companies are also stopping payments on properties there). Anyone have an explanation?

typically residential real estate trails commercial

but this does not seem like the bottom

i do wonder if you can turn this into a residential unit?

if not could you create a company and just live inside it?

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