Submitted by mooseLimbsCatLicks t3_y93ns5 in jerseycity
Comments
viniciusah t1_it4odc4 wrote
He'd just tweet about it, make an offer, and then back track after asking if the residents are real or bots.
G_Funk_Error t1_it6ydco wrote
Yeah but he’s actually buying now.
viniciusah t1_it7vrtg wrote
Now that he supposedly wants to buy, Biden might veto it. Lol.
If you've told 5-years-ago me this, I would have said you're crazy. Now? It's plausible...
VanWorst t1_it3fz8q wrote
The pivot Mack-Cali/Veris did is pretty insane...
> multifamily properties now account for 98 percent of Veris’ net income, the REIT said, up from 39 percent at the start of last year
N0_ThisIsPATRICK t1_it7j443 wrote
Their board was voted out by a private equity firm that took over and changed the direction of the company.
montblanc6 t1_it96dtr wrote
Probably a good direction now that with pandemic office spaces are going empty
driftingwood2018 t1_it4x862 wrote
The buyer, The Birch Group, has quite the opposite portfolio. Almost all suburban office.
garth_meringue t1_it3kkb4 wrote
hopefully it will be less of a ghost town
moobycow t1_it3md6w wrote
Some of the new residential buildings in the area will help.
[deleted] t1_it469hs wrote
Why is it so eery and empty? Every time I walk by on the boardwalk, I see all those high-top tables and chairs through the window and it looks so lonely. Is there anything in there except Bright Horizon? Is that florist ever open? So much empty retail space. Looks like some pedestrian tunnels in the subway.
garth_meringue t1_it4e6l5 wrote
Before the pandemic and renovation there was some life with Piggyback bar, and there were active shops in that corridor, but they haven't really brought anything back yet. The other bar that had opened seems to be closed still too.
new_account_5009 t1_it5mwd7 wrote
Pre pandemic and pre renovation, I used to work across the street and get lunch there all the time. It was always lively with people from the office towers nearby. Post pandemic, we went WFH (as did a lot of others), and the place was never the same.
[deleted] t1_it5njz6 wrote
I went to a couple beer fests there pre-pandemic and the whole complex had a hollow, faceless feeling to it.
objectimpermanence t1_it9xfvn wrote
I used to work nearby before COVID too. It was only busy on weekdays until like 6:30pm or 7pm. It was a complete ghost town on weekends.
I know it’s technically a historic building, but I think they should’ve just demolished the whole building instead of renovating. The layout of this massive multi-block long building is inherently uninviting and I don’t think the renovation did enough to change that.
DirectorBeneficial48 t1_it3d3d3 wrote
Interesting. I wonder what that means for a number of the tenants, especially the food court.
HappyArtichoke7729 t1_it3dmp0 wrote
Means rent will go up, probably little else. Considering this was just renovated, it seems unlikely it will be razed for new construction.
jersey-city-park t1_it3db2g wrote
Nothing probably
DirectorBeneficial48 t1_it3gcwf wrote
Gonna depend a lot on what the leases say. Let's just say I won't be surprised if there's slightly higher turnover there.
jersey-city-park t1_it3qipp wrote
Office buildings sell all the time. I doubt the new owner will shoot themselves in the foot
Knobbies4Ever t1_it3sycy wrote
420 you say? maybe Elon Musk bought it?