Wednesday, July 28, 2010

what's land worth in Chinatown anyway? CCRC would like you to know.

click to enlarge this image.

Note the comment "projected signage rent of $150,000.00"   -  a bill board - oh joy.
and an anonymous poster on has this to say:
$150K per annum for that busy corner with lots of traffic is UNDERestimating it. $50K per month is reasonable.
There is a movement afoot coming from some entity called the Chinatown Working Group that is working with developers to change the zoning along Canal Street. There is talk of changing the zoning to permit high-rise development in this low rise neighborhood.
If this passes, this building could easily be torn down and replaced with a multi-million dollar luxe condo building.
The seller knows exactly what he is doing and why the price is so high. It may be a gamble but if the zoning is changed, it will be quit a windfall.
Of course, Chinatown will be fucked."


Anonymous said...

you are really complaining about a billboard on canal street?

Anonymous said...

Ah! the flowers of Greed and Capitalism.