Commercial Real Estate Is Dying! NY CRE Property Sells For 97% Discount At Auction (135 W 50th St)

#bubble, #inflation, CMBS, CRE, Credit, ECB, Economy, GDP, Housing, Inflation, Mortgage, Oil, Powell, REITs, Treasuries, Treasury, Uncategorized, Wages, Yellen, Yield Curve 1 Minute

The US commercial real estate sector is dying, like an episode of The Twillight Zone.

Example? This is 135 W 50th St in NYC. In 2006, this building sold for $332 million. Yesterday it sold for $8.5 million at auction. A 97% discount!

It is mostly smaller banks with large CRE exposure.

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Published by confoundedinterest17

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