Unless they signed long leases with “commercial real estate” the company can just you know save a load of money not renting those spaces and just liquidate the office for quick cash.
Or if they own, they can always sell unless “it’s an investment” so we can sell it in the future for more.
A company I worked for got into a long lease for 3 floors in an office building. Never used one of them. Ended up subletting it to another company until they were out of that lease.
But you can only sell if someone is buying, and the moment you list that huge skyscraper on the market and find out that the only offers you’re getting are 1/10 the asking price, suddenly the other massive commercial buildings you have on your balance sheets (and those of all your rich buddies) suddenly drop 90% in value, and it’s revealed the emperor has no clothes
It would take some renovation but I imagine buying even just a couple of floors of space for apartments in the middle of NYC could be extremely desirable.
Unless they signed long leases with “commercial real estate” the company can just you know save a load of money not renting those spaces and just liquidate the office for quick cash.
Or if they own, they can always sell unless “it’s an investment” so we can sell it in the future for more.
A company I worked for got into a long lease for 3 floors in an office building. Never used one of them. Ended up subletting it to another company until they were out of that lease.
But you can only sell if someone is buying, and the moment you list that huge skyscraper on the market and find out that the only offers you’re getting are 1/10 the asking price, suddenly the other massive commercial buildings you have on your balance sheets (and those of all your rich buddies) suddenly drop 90% in value, and it’s revealed the emperor has no clothes
It would take some renovation but I imagine buying even just a couple of floors of space for apartments in the middle of NYC could be extremely desirable.