JUST IN: A 117K sq ft building in San Francisco is up for sale and sources say it's being 'marketed' at a massive 80% discount

The owner ASB RE Investments acquired 989 Market for $61M in 2014

ASB is asking around $12M, or $100 per sq ft, according a source close to the SF Business Times

Any takers?

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JUST IN: An iconic Cleveland skyscraper has been sold at a massive ~70% 'discount' to what it last sold for 5 yrs ago

The 1.26M sq ft tower located at 200 Public Square sold for $54M, or $43 per sq ft

The tower last sold for $187M in 2018

The commercial RE office meltdown for class B and C buildings has gone from scary to catastrophic in many cities around the US

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JUST IN: JP Morgan sells a Chicago apartment complex at a massive $80M loss

The 19 story apartment building at 850 N Lake Shore Dr sold for $80M, 43% less than the property's previous sale

JP Morgan paid $140M in 2016 for the 198 unit building, which was an all-time high in terms of per unit price for a DT Chicago apartment building

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JUST IN: Blackstone just sold an office building in Seoul, South Korea for $586M or a massive ~$860 per SF

They reportedly sold at a 30%+ premium to their 2016 acquisition price

Seoul's office vacancy is ~2% (lowest in the world) while some cities in the US like SF and Portland are seeing over 30% vacancy

It it just a matter of time before the rest of the world follows the US in terms of the 'work from home' trend?

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JUST IN: Bondholders have lost a massive $155M on the sale of NJ’s 3rd biggest mall, Woodbridge Center

The 1.7M sq ft mall sold for $70M, or ~$42 a sq ft

The mall was appraised at $366M when the Seller - Brookfield - acquired the mall

Brookfield owned the mall since 2014 but stopped making payments on the loan in 2022

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