Posted Jan 15, 2015, 6:15 AM
|
 |
She needs her space
|
|
Join Date: Sep 2005
Location: San Francisco
Posts: 2,454
|
|
Amazing news. Speaks volumes for the market, and WHOA, that is an amazing basis. 1.17 acres, $296M, that is over a QUARTER BILLION DOLLARS PER ACRE. I'm positive that NYC is the only other city in America that has seen pricing like that.
The fact that this is now Chinese backed actually comforts me - their cost of capital is much lower than American firms.
So looks like a construction start in 2016? I'm betting that while the money/capital stack is a bit different, the overall plan is similar to Jay Paul's - another office/high end condo tower going up now.
|