San Francisco Shopping Mall Ravaged by Crime and Store Closures Sells at Auction for a Fraction of its Worth
(www.thegatewaypundit.com)
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......."fraction of its worth".? WTF. The market actually just established EXACTLY whats it worth.
It may be a fraction of what it cost to build.....but that's another issue. Mega buildings in cities are no longer needed for commerce or residence
soon my friend the future will be nothing but jeet-hive condos built on top of amazon distribution centers! it is was God intended.
Sounds like they will be able to save on sanitation and plumbing. 🤣
Newsome's policies at work in California!
The socialists are really desocializing their utopia
Boon for Amazon if their drivers are able to deliver the goods through the mayhem. What's happened to all the 4 star restaurants in SF?
The problem with this article is that it doesn't get into the fact that shopping malls are very unpopular almost everywhere. Their day has long past.
You can thank Amazon and on-line shopping for that...
In part. Also, the interest in homesteading, which involves a lot less frivolous buying, and the interest in hanging around towns instead of malls.
Tear it down and utilize the space for something useful the entire city can utilize, like a new sports arena. Twenty bucks to park, one hundred for a ticket and ten bucks a pop for a beer and hot dog. It's the American way!
You obviously haven't been to a professional sporting event in a few years (nor have I)
Those are 90's prices. And that's not even Cali's costs...
Note the reduction of "drunk and disorderly" ??
Not at Philthydelphia sporting events.
Ah, Old School !!😯
I wonder if the land is worth more? That would explain it.
A thing is only as valuable as what someone is willing to pay for it
Empty properties are many times running up huge property taxes that will need paid at time of transfer. This cost is taken off the listing price. So the buyer may have needed to pay millions in back taxes.
No one really knows what to do with it. I believe part of the building is a designated landmark (the dome in the old Emporium section, which really is very beautiful, especially given the Soviet aesthetics of most of the crap being thrown up today), but that complicates it.
TBH, I know malls were overbuilt but I would like to see SOME malls. For sone things, online shopping is super convenient, but for others, it is just catalog shopping. When it comes to clothing especially, I want to touch and feel the material - not the back and forth BS of fit and color wrong. Plus, I just miss browsing.
But it is mostly peaceful.