One of St. Louis’ tallest office buildings sells for only $3.6 million....2% of it's peak price

[westwall]

Of late, many will not find it particularly alarming or unexpected that Americans are referring to their big cities as shitholes.

If it's run by democrats, that's what they become.

 

[westwall]

It's called Gentrification.

Move a bunch of blacks into any neighborhood and watch the property values tank over night.

More like baboonification. The only blacks in Africa who act like that are warlords and their minions. The normal black folks are some of the finest people on the planet.

They are kind, generous, genuinely helpful. Peaceful, and smart as hell.

Damned good workers too, if trained properly. In all my years working in Africa I never saw behavior like this.

 

[westwall]

The building has been empty since 2017....yet it is somehow Biden's fault.

I just love you partisan sheep, you are so much fun.

St. Louis has been run by democrats for decades, moron. That's the point. Where ever you shitbirds land, you turn that area to shit.

It's what you do.

You're like locusts.

 

[Donald H]

If it's run by democrats, that's what they become.

They're run by Americans and your political distinctions mean nothing to Canadians. Do you have anything to say about Canadian cities?

 

[Harpy Eagle]

St. Louis has been run by democrats for decades, moron. That's the point. Where ever you shitbirds land, you turn that area to shit.

It's what you do.

You're like locusts.

They blamed it on Biden, not Dems. Do try to keep up

 

[mudwhistle]

More like baboonification. The only blacks in Africa who act like that are warlords and their minions. The normal black folks are some of the finest people on the planet.

They are kind, generous, genuinely helpful. Peaceful, and smart as hell.

Damned good workers too, if trained properly. In all my years working in Africa I never saw behavior like this.

It depends on which country.

Some of them like taking white women out in the bush and hacking them to pieces and some of them are the nicest people you could ever meet.
South Africa is the worst but Kenya is really nice.

 

[westwall]

It depends on which country.

Some of the like taking white women out in the bush and hacking them to pieces and some of them are the nicest people you could ever meet.
South Africa is the worst but Kenya is really nice.

Kenya, Botswana, both incredible countries, with exceptional people.

But yeah, since the ANC took effective control of SA it has turned in to a leftist shithole.

 

[mudwhistle]

Kenya, Botswana, both incredible countries, with exceptional people.

But yeah, since the ANC took effective control of SA it has turned in to a leftist shithole.

And guess who made that all possible
Obama and Hillary.

 

[westwall]

It depends on which country.

Some of the like taking white women out in the bush and hacking them to pieces and some of them are the nicest people you could ever meet.
South Africa is the worst but Kenya is really nice.

Kenya, Botswana, both incredible countries, with exceptional people.

But yeah, since the ANC took effective control of SA it has turned in to a leftist shithole.

And guess who made that all possible
Obama and Hillary.

To be honest, SA was falling into a horror show earlier than that.

They merely accelerated it.

 

[Procrustes Stretched]

https://www.costar.com/article/642008108/one-of-st-louis-tallest-office-towers-empty-for-years-sells-for-less-than-2-of-its-peak-price

In the latest sign of how lower demand is hitting parts of the U.S. office market, one of the tallest towers in St. Louis that sold for $205 million in 2006 has changed hands again this week — for about $3.6 million.

The former One AT&T Center, a 44-story high-rise totaling 1.46 million square feet at 909 Chestnut St., is now owned by Boston-based Goldman Group. The firm bought the property via CoStar Group's Ten-X auction exchange from SomeraRoad Holdings, a commercial real estate investor and developer that paid just $4.5 million for it two years ago. On a per-square-foot basis, the tower’s value over 18 years dropped from about $140 to $2.50, according to CoStar data.

The block on which the long-vacant property sits was declared a blighted area by the St. Louis Planning Commission in 2023. SomeraRoad had proposed renovating the existing building to develop 306 apartments, 300 hotel rooms and 37,000 square feet of retail, thus reducing the office square footage by 1.2 million square feet.

The company's plan to redevelop the tower never materialized. Charles Goldman, principal of Goldman Group, wouldn’t disclose to CoStar what his firm intended to do with the property, saying his company was “still digesting the sale.” At 588 feet, the former One AT&T Center is taller than all but the 630-foot Gateway Arch monument in St. Louis and the 593-foot One Metropolitan Square office building.

Dem-run shit-hole gonna shit-hole.

They will convince the city and state (and maybe the feds) to give them money to redevelop the "blighted" area. Take the money, use it to pay off politicians and give bonuses to everyone in the C Suite, then declare bankruptcy. There's lots of grift to be had there.

Part of the "Doom Loop" I guess.

The Real Estate Nightmare Unfolding in Downtown St. Louis​

MSN

Dem-run shit-hole gonna shit-hole? Nah, looks more like a Trump investment.

 

[mudwhistle]

Kenya, Botswana, both incredible countries, with exceptional people.

But yeah, since the ANC took effective control of SA it has turned in to a leftist shithole.

To be honest, SA was falling into a horror show earlier than that.

They merely accelerated it.

As soon as it fell into tribal rule SA fell apart.
Winnie Mandela proved to be a thug, and once her husband was elected president SA went to shit.

 

[westwall]

Dem-run shit-hole gonna shit-hole? Nah, looks more like a Trump investment.

Poor dainty. You hate it when your shitholes are exposed.

 

[westwall]

As soon as it fell into tribal rule SA fell apart.
Winnie Mandela proved to be a thug and once her husband was elected president SA went to shit.

So true. She was an absolute corrupt piece of shit.

 

[Procrustes Stretched]

Poor dainty. You hate it when your shitholes are exposed.

Just one more Trump investment.

 

[westwall]

Just one more Trump investment.

Just one more blue shithole.

 

[JackOfNoTrades]

Yeah. BLUE SHITHOLE CITIES, sport!

And red ones too...sport.
Kudos to Tulsa that their downtown is coming back though.
Sorry, I couldn't link an article that wasn't pay-walled or registration bound.
A simple Google search will show you they have the same issues in real estate that other cities do.

A lot of vacancies.