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lost_in_life_34 t1_j9tu8fs wrote

Reply to comment by MyPeePeeReversed in Pimco-Owned Office Landlord Defaults on $1.7 Billion Mortgage by downboat

>Columbia Property Trust

for NYC one of the buildings was twitter and the other ones were older buildings

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in NYC all the older buildings are going bankrupt and companies are coming to newer offices with hotel seating. the older buildings are hard to run ethernet, wifi and other modern tech in and the newer ones are built with new tech in mind along with more natural light

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MyPeePeeReversed t1_j9tv4jh wrote

But if the argument is ',the reason these building are going bankrupt because they aren't modern' I don't think it holds water because all these building have adjustable rates which makes the monthly mortgage payments jump higher and higher.

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