I've come across one such building so far in a search with a buyer, expect to see more of these. I'm particularly interested in some of the buildings where they have unnaturally (IMO) low maintenances.....I think there are tons of buildings which own their retail spaces and became accustomed to receiving a certain level of income from them. I also think the retail market was in trouble before COVID and when it ends the income streams are probably not returning 100%. So Coops which are bridging the Gap through "temporary" assessments because they don't want to increase maintenance may have some difficult decisions ahead. Especially after they turn down a few offers from tenants because they were below the previous tenants numbers and have left the space empty. I have to wonder what's going on with the financials at 99 Bank St.
Great topic Victoria..I expect to see more of these as this cycle plays out. Nikki makes a great point re: buildings with commercial space.Are you seeing many buildings running budget deficits? And, are there many buildings where shareholders/ owners are defaulting on monthly charges? (due to COVID, of course)