Denver is a failed city. You can blame progressive/left/dems for this.
Depending on where you are downtown it looks like hell and the "people" look like zombies. No wonder there is no foot traffic and crime is through the roof (they claim it's down, they just are not reporting it anymore. Just like all blue cities).
Archive: https://archive.today/pItRt
From the post:
>Two downtown Denver skyscrapers recently sold for just $3.2 million, more than 90% below their estimated 2019 value of approximately $200 million, highlighting the dramatic decline in commercial real estate values following the COVID-19 pandemic.
Developer Asher Luzzatto purchased the buildings at 621 and 633 17th Street on April 1 and plans to convert them into more than 700 apartment units.
"These buildings were probably worth close to $200 million in 2019," Luzzatto said. "I think that's reflective of where the office market is today."
The drastic devaluation reflects a fundamental shift in Denver's office real estate landscape as remote work continues to reshape office space needs more than five years after the pandemic began.
Denver is a failed city. You can blame progressive/left/dems for this.
Depending on where you are downtown it looks like hell and the "people" look like zombies. No wonder there is no foot traffic and crime is through the roof (they claim it's down, they just are not reporting it anymore. Just like all blue cities).
Archive: https://archive.today/pItRt
From the post:
>>Two downtown Denver skyscrapers recently sold for just $3.2 million, more than 90% below their estimated 2019 value of approximately $200 million, highlighting the dramatic decline in commercial real estate values following the COVID-19 pandemic.
Developer Asher Luzzatto purchased the buildings at 621 and 633 17th Street on April 1 and plans to convert them into more than 700 apartment units.
"These buildings were probably worth close to $200 million in 2019," Luzzatto said. "I think that's reflective of where the office market is today."
The drastic devaluation reflects a fundamental shift in Denver's office real estate landscape as remote work continues to reshape office space needs more than five years after the pandemic began.
(post is archived)