/biz/ - Business & Finance

>>56587892
This should be used to house immigrants

>>56587892
"all these office buildings in prime downtown areas"

okay but this is a St. Louis example which is not a desirable metro area by any means (hence it has negative domestic migration and only grows due to natural increase and international immigration). show me these examples in prosperous areas like the Texas metros, Carolinas, Nashville, Atlanta, etc.

>but what would you do with the building anon
and of course if I bought this skyscraper in The Lou, I'd make it into affordable NEET housing

Damn so letting your downtown/urban areas become cesspools of humanity is a bad idea?

>>56587892
I have done work on this building several years ago, after it became vacant. It is pretty cool because it looks largely unchanged since the 80s. The ground floor is basically a little mini mall/food court. Unfortunately many parts of the building are in disrepair. A lot of birds and bats live inside. It's a money pit that everyone thinks they can turn around, then they dump it on the next bagholder.

>>56587976
Promptly followed by flying a plane (also full of immigrants) into it

>>56587992
they should allow it to be reclaimed by nature

>>56587989
This. The catch is St. Louis, Nigger-Zoo-y

>>56588004
But buildings don't collapse from plane crashes? Maybe if someone sets up an "art project" in advance.

The areas excluding East St Louis aren't terrible. Downtown St Louis, however, is an absolute no no. Very unsafe after dark and nothing but abandoned buildings in the day time.

Why shouldn’t i buy it and turn it into a homes for thousands of migrants

I would buy it if I can turn in to apartments.
But boomer zoning laws don't allow you to do that.
Thanks boomers

>>56588272
East St Louis is a different city in an entirely different state. Most of St Louos City is garbage outside a small cone heading out from downtown, to the central west end, and eventually into the suburb of Clayton. St Louis County is comfy though but as a whole the entire metro area is not really desirable at all. Even Kansas City metro is more desirable

>>56587892
>Sold my house for $600/sqft
LMAO

>>56588363
>I would buy it if I can turn in to apartments.
even wework gave up on that shit
offices are built to offices - plumbing alone would fuck your res. conversion costs into the stratosphere.

>>56588408
Porta potties on every floor retard

>>56588363
It ain't that easy boomer. Office floor plates are vastly different than residential. It is often times much easier to demolish the building and erect a brand new structure than it is to remodel. No one wants the interior apartment with no windows, and if you are building larger units so everyone has a window, you won't make nearly as much money. Plus ceiling heights, communal spaces, etc.

>>56588428
and empty them down the lift shaft, gotcha

>>56588442
They could make it a Japanese style pod hotel, with communal bathrooms and kitchens. Zoomers would love it.

>>56588442
> No one wants the interior apartment with no windows

make em $700/month, say $1/sqft with communal laundry, the motherfuckers will be full.

>>56587892
Nobody needs corporate real estate when most people are hybrid or remote working. Also St Louis is a dead city. Dead city with dead property sector is a retarded investment when you consider the annual cost to heat and electricity a building that will be 80% empty, require constant maintenance, and be taxed to hell by the democratic shit hole that is St Louis. The only bonus is that the assessed value of the building goes down with each sale so you're taxed a little less for buying what is a terrible investment. Better to demolish it and put up a parking tower or something.

>>56588244
It's not about the collapse, it's about the theater. You can choose your own adventure that's inclusive and representative of the beauty of diversity

>>56588309
Because zoning laws preclude you from creating residential property in a building zoned commercial. Plus you'd need to rework the plumbing to facilitate a bathroom and shower for every unit where most offices have like 4 bathrooms per level.

>>56589328
And then you'll be protested into the dirt the second some retarded zoomer kills themselves because of vitamin D deficiency induced depression.

>>56588455
Ah yes, the south african method.

>>56588363
>>56588408
>>56588442

24/7 office job available with living space, kitchen, and bathroom. Your you is a intern and will require YOU to pay $1,000/month to remain employeed.

NO THIS ISNT A APARTMENT, WHY DO YOU ASK teehee

ps. tenant eviction laws dont apply since this a job. teehee

>>56589509
>zoning laws
none of that matters anymore

We could and ABSOLUTELY SHOULD try to cram as many illegals as possible in that building. Perhaps putting 20-30k of them in there. They can bust out windows and make campfires to cook their meals...would look absolutely awesome when seen in night sky.

Someone create a website called migranthouse.lol and create a way to fund this. Website should also include ways to sponsor specific types of migrants (ie. MS-13 or those suffering from various diseases)

The only way out of this situation is thru massive acceleration and to pick a group of cities to completely and totally implode.

>>56587892
I would listen to what it has to say and that's what no one else is doing

>>56587976
These office buildings would need to be gutted from top to bottom to convert to housing.

>>56589857
>These office buildings would need to be gutted from top to bottom to convert to housing.
WRONG.
bust out all windows and light fires on each floor. let illegal spics cook rat tacos huddled around fires.
the scene will look absolutely MAGICALLY when seen at night. a perfect representation of modernity

>>56587892
The amount of land that will get dumped on the market when cities are forced to re-zone is unreal. Everyone is focused on these big high-rises but there are a lot of those business parks in the suburbs that to my eyes are no where near capacity.

There's absolutely zero civic trust to allow large population centers. Leave that stuff to high IQ homogeneous nations like Japan. You can't have complex systems in the United States when it has bred selectively for low IQ shitskins in the past decades.

>>56589500
You missed the point moron

>>56589988
Wow anon aktually 9/11 was an inside job I'm just hearing this for the first time thanks anon it was only multiple decades ago who fucking knew that's so crazy!!!!!!!! Tell me more you genius!

>>56587892
I'd like to be paid for consultancy, because I'm one of the few people who could make profit from this.

>>56588442
>No one wants the interior apartment with no windows
I would for the right price.

Let me guess
NIGGERRRRRRRS?

>>56589935
Yeah but those will be easy to convert because suburban business parks are typically just giant parking lots and mowed grass. Demolish the low rise and you essentially have a blank canvas

I work at a bank and used to be an analyst in the income property loan portfolio management team AMA.

And yes SF’s CRE market is imploding, especially office buildings. Property values are declining, remote work is making offices obsolete, techfags are leaving because they don’t want get stabbed. Most CRE loans are floating rate loans that start off with a fixed rate/interest only period. Once that ends it adjusts, usually semiannually, based on a interbank overnight rate index like sofr or Ameribor + the bank’s margin. So anybody who’s fixed rate/interest only period is ending right now could see their rate go from 4% to 9% instantly. All of this could cause their debt coverage ratio (net operating income/annual debt service) to fall off a cliff. Most banks want a 1.2 dscr and could even contractually obligate a borrower to maintain a specific dscr or else it’s considered an event of default.

Expect a lot of foreclosures in sf within the next couple years. Government might intervene.

I don’t work in cre finance anymore but I still check moody’s/costar data. Vacancy rates are increasing and property values are declining in SF more than any other city. I love it.

>>56587892
Turn it into a giant escape room. The Skyescraper.

>>56587992
>Unfortunately many parts of the building are in disrepair. A lot of birds and bats live inside. It's a money pit that everyone thinks they can turn around, then they dump it on the next bagholder.

Anons who wonder who a largely functional skyscraper can be so cheap simply do not understand how horrible and fucked up St. Louis actually is these days. I lived there a decade ago, it had one of the highest homicide rates in the country. Now after 2 rounds (at least) of BLM riots, continually declining economic opportunities, it is far worse. Back in June I was at a bar downtown I used to go to, on a very miserable and rainy night, and there were gunshots right outside the place at 130am. This wasn't in "the ghetto". I wasn't north of Delmar blvd. I wasn't in East STL. This was just barely south of downtown between the arch and soulard. A rather boring area usually. That's how fucked up it is.

There's absolutely no reason to live in St. Louis if you have the ability to leave the city. It's really sad, because there's lots of beautiful old architecture and world class buildings (many in disrepair) but the levels of crime are so off the charts that no one wants to live there.

If you want to seriously LOL at St. Louis, just google Clayton, Missouri. It's basically a "suburb" about 10-15 minutes from downtown STL, in STL county. It has skyscrapers and it's own "downtown" that rivals downtown St. Louis. pic related, Clayton MO. You can see the Arch and actual downtown of st louis in the background. If this vacant skyscraper was in Clayton instead of St Louis, it'd probably be worth at least 30-50 million, maybe more. But who wants to commute to downtown st louis? You'll potentially get your car broken into, have to deal with homeless, niggers, and homeless niggers

In any normal respectable city, all of those tall buildings would simply be in downtown STL, and thus it would be less of a shithole. But this is st. louis we're talking about. Home of the blues

>>56590999
I have been to all 48 states and St Louis is the worst city in America, no question. New Orleans is the only one anywhere near it.

>>56590596
Good. Fuck that place

>>56589509
Speaking from family experience, in St Louis, downtown, in high-rises, converting commercial properties to mixed-use commercial/residential, no, zoning laws don't preclude you or make this impossible. It just takes knowing what you're doing. That said, every square footage of commercial downtown in STL is an extra nail in your coffin right now. Residential isn't too bad. However, I think it's reached saturation. Commercial spaces are bleeding everybody dry, and everybody's holding their breath that the crime wave this year doesn't lead to a flight out of downtown as leases renew. So far so good, and with Gardner out, things look just a smidge better. It's getting bad enough though that it is going to require serious government intervention to revitalize downtown, or it's going the way of Detroit, at this rate. Pucker your fucking anus with these interest rates as deals renegotiate over the next couple years on commercial space. A lot of people are pinning hopes on the Metallica record-setting concert giving good publicity to downtown with no significant crime, if that tells you *anything*. I've even worked with a couple buildings downtown on installing Bitcoin miners to augment their heating systems over the past couple years, just to help them mitigate their winter heating costs.

>>56591236
Worse than Jackson Mississippi?

>>56590999
First of all, checked.

Second of all
>Delmar blvd, St. Louis

Is this a LINK shill post? Because if not, it might be a good idea to go all in right now.

>>56590596
This guy knows what he's talking about with respect to rate changes and what they're going to do to commercial real estate very fucking soon. People are already dropping like flies, just nobody notices.

>>56590999
>just barely south of downtown between the arch and soulard
BoB? Don't recall any shooting near there this year. But, this summer was a remarkably bad year for niggers firing guns in the air and shit downtown. It seems to be calming down some with Gardner's exit stage left. I think Tishuara is going to get fucking trounced next election, and you're going to get somebody who's a fucking hard-ass broken window policer to clean the city up.

>>56591236
Counterpoint, have you not been to Denver? The amount of fucking meth'd out bums there is absolutely mind-boggling. St. Louis has niggers that live in ghettos and certain blocks. Denver is just bums, fucking EVERYWHERE, pitching tents on the fucking sidewalk.

>>56589529
>protested
The next time a protest works will be the first.

>>56591380
Black lives matter protested so hard that a man was sent to prison for life for someone choking a fentanyl overdosing criminal that died from fentanyl from behind his windpipe. Wouldn't want to be the judge that allowed anything but that.
Seems protests work if you're not a pussy.

>>56591401
Somehow*

>>56591236
Atlanta and Baltimore are infinitely worse.

>>56590033
I wasn't even talking to you faggot

>>56587976
Fill it with immigrants then demolish the building

>>56587892
Charge $1000 a pop for people to suicide off the top, would pay for itself in a year

>>56587892
let me know when the nuclear hardened, no window having, at&t buildings go for auction. biz could turn into a citadel.

>>56587892
>if you bought it, what would you do with it anon?
I'd start by spraying the entire interior down with bleach

>>56587976
>and then set on fire.
St Louis is a nigger infested shit hole.

>>56591351
>>56591426

Denver is actually nice, and Atlanta is nice except in the particularly shit areas. Baltimore is.. not good. St Louis is worse than all of them.

If you think cities like Denver and Atlanta are in the tier with St Louis and Baltimore you have never been anywhere.

>>56591800

This is why we need RTO

>>56587892
Id fill it full of niggers and greedy white people like the people on /biz/ and then 9/11 it

>>56592291
>the people on /biz/
Grenfell it as well, in that case
>just to make sure

>>56590999
Gunshots outside the designated gunshots area? Now it has REALLY declined.

>>56590596
Fellow bankfag here, this man speaks the truth.
Fuck modern SF, it used to be such a beautiful city. Libshits ran it into the ground like they do everything else.

>>56587976
And kick out the underprivileged nigger crackheads squatting there? Have you no heart?

>>56591401
It only works when the paid for zeitgeist is behind it... But then is it even a genuine protest or incited by the media and let loose by authorities?

>>56587892
The real answer is to slash the rent and let any startup or small biz rent anything from a single desk to a whole floor, for a third of the price they would otherwise get.
Except nobody has done that already because that city doesnt have a particularly healthy business scene - State laws and ordinances have sapped any innovation from the economy, the only thing left is zombie companies lumbering along.

Even at 2.5m, you'd struggle to make a profit on this over the medium term. Thanks obama.

>>56588408
what if you just make every floor just 2 apartments, every floor has a bathroom in a typical office building. You could split the bathroom, branch off of that plumbing to make a kitchen on each side and do drywall or whatever to make rooms, make a secure entry room off of the elevator and stairwells. Bedrooms mostly along the outside wall for windows.

Yes they would be huge but you could target large urban families and it would still be denser housing than single family residential. You're not going to get the same density per sf compared to a purpose built apartment building but there's also not much point in squeezing a million people into St Louis.

It'd be a shitty idea unless you had billions and could buy up the entire area or a large part of it and gentrify the shit out of it which would require either the city and police backing you up or private security.

>>56587892
Make an agreement with the US government to fly a plane into it.

>>56588442
just make 4 studios per floor there

>>56588375
KCMO fag don't listen to this anon our city is literally on fire with niggers.

>>56587892
private equity will buy those distressed asset for cheap and make a fortune

>>56591426
Atlanta is actually developing rapidly. New condos being built all over the city and the old shitty parts are being gentrified hard. The parts of the city that used to be no man's land have essentially been turned into high value neighborhoods. There's maybe 5 small neighborhoods that are still hell on earth but I'd give them 5 years before they're gone too.
Can't speak for Baltimore though.

>>56588216
St. Louis is one of the most segregated cities in the country. Logically, this would indicate that letting your white people live apart from your black people is detrimental to the social fabric. QED

>>56587976
Imagine how much you could help people if you squeezed in hundreds of 4 bed-high bunkbeds and house people fleeing their countries for safety

The less popular cities will be the first to demonstrably crumble. The era of hyperurbanization is over, people don't need to cluster around a city center to do business anymore. Retard mayors/DAs and their hands off towards crime policies are just the icing on the cake.

>>56590596
>Government might intervene.
They already are. The things appraisers are getting away with to avoid setting accurate valuations is literally criminal. But if no one will investigate/prosecute...

>>56590999
Nice digits but most major cities have suburban districts like Clayton, which btw is still far smaller than Downtown st Louis. but good points

>>56593836
>hands off towards crime policies are just the icing on the cake
well these are obvious ploys to depress housing prices. literally think how cheap it is for soros to "short r/e" and buy bottom.
>spend 200k on retarded nigger da
>let niggers run wild
>buy bottom
>fire nigger da and hire "stronk on crime"
>profit

>>56590999

The "nice parts" of many cities in the midwest are going this way. I lived in Columbus and the bar/restaurant stretch is now routinely harassed by gunmen and the mayor/DA/chief of police do jack shit about it because it's their precious hecking niggervoters doing it and the white people are tail tucking cowards. Everything about the modern urban scene is disgusting, literally Babylon.

>>56592007
Baltimore is fine. It would be better if they hadn't lost Otakon.

This is one of those threads where the brainrot racists get their story straight about the purported collapse of urban centers, huh? Jesus Christ you fucks really are just your reincarnated great-grandparents.

>>56593911

Kill yourself you literal human cockroach. You are the reason societies crumble. You'll make sure you don't look too racist as you're getting stabbed in the street.

>>56593836
nice map. and those counties in places like Houston and Dallas that are red are really just seeing people leave the urban core for the suburbs. but wow look at coastal california. a true exodus

>>56593661
kansas city METRO. do you know the difference? only bad parts of KCMO is the southern side. North KCMO, Johnson County, Platte County, etc., are all very nice. you must not be able to afford Johnson County

>>56588004
I have never seen a more based post on biz. Excellent

>>56590596

how do we profit from this?

>>56590596

Kek, maybe Soros really is trying to get cities to dump so he can buy

>>56594040
Fuck off we're full.

>>56594736
Kansas City is the largest most empty metro in the US. like no traffic and high quality suburban living. the secret is out anon lol

>>56592329
is it made from cardboard like other us houses?

>>56594519
Wait for commercial property prices to crash and buy when interest rates come back down to buy a multifamily property

>>56594528
That's quite literally the plan. See the former San Francisco DA with direct connections to him who singlehandedly let it get as bad it is now by refusing to prosecute crimes, and is now in the process of doing the same to Los Angeles.

>>56587892
Tear it down and build something better. It's the land that's valuable, not the building.

>>56594828
Yup its out. Always thought of it as the most underrated city in the US. Cool place. At some point some foreign group of Armenians or Indians will realize this and move like 200,000 people over there ha ha

supermodel orgy mansion

>>56587892
imagine having a whole building for yourself. that would be really cool.

>>56587992
>A lot of birds and bats live inside
why not invest in technology to drive them away and clean the building? like ultrasonic stuff and pressure washers...

>>56593154
Crunch the numbers of apartments and expected rent, lets see if thats profitable

>>56597890
Lived there for 6 years. Everyone is just bored and waiting to die. I dare you to go during winter time.