Laurent Lequeu on LinkedIn: While investors' focus has shifted away from Commercial Real Estate, bad… (2024)

Laurent Lequeu

Self Employed Independent Financial Consultant

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While investors' focus has shifted away from Commercial Real Estate, bad news continues to pile up as real estate-related companies unload properties. Last week, real estate giant Related Companies sold the property at 321 W. 44th St., New York City, for less than $50 million. Not only is this a 67 percent discount from the nearly $153 million that Related Fund Management paid for it in 2018, but also, the lenders, including Canadian Imperial Bank of Commerce, agreed to a ‘short sale.’

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Laurent Lequeu

Self Employed Independent Financial Consultant

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For those who have forgotten 2008 or were too young, a ‘short sale’ is when the lender agrees to sell a property for less than the outstanding amount on the mortgage. The owner loses everything, and the lender takes a large loss. In this case, the repayment to the lenders was more than cut in half, as the property's mortgage exceeded $100 million.https://www.lev.co/blog/what-is-a-short-sale-in-commercial-real-estate

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Catherine McKee Sienkaniec

Book Author | Macroeconomic Consulting, Published Author, Maven, Trader

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The CRE problems are worldwide.

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Andres Parra Restrepo

Principal-CEO Global Operations at Imagio Enterprises Group | Bridging gaps in communities through strategic relationships, with Innovative Technologies

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The House of Cards effect at it’s best!

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Laurent Lequeu on LinkedIn: While investors' focus has shifted away from Commercial Real Estate, bad… (2024)

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