  Nainrouge Member Username: Nainrouge Post Number: 957 Registered: 05-2006 |
How much will this go for? http://www.bethroseauction.com/html/auction_detail.php?auc=1035&sec=0&typ=0  | ||
Nainrouge Member Username: Nainrouge Post Number: 958 Registered: 05-2006 |
From the same auction house, the Wright K Building: http://www.bethroseauction.com/html/auction_detail.php?auc=1038&sec=0&typ=0  | ||
Goat Member Username: Goat Post Number: 10142 Registered: 10-2003 |
The Wright K is one of my fav buildings downtown. Wonder how much that would fetch? | ||
Guideboat Member Username: Guideboat Post Number: 12 Registered: 02-2008 |
Wow, incredible. I've seen the outside of course, but the inside is fabulous. | ||
Barnesfoto Member Username: Barnesfoto Post Number: 4836 Registered: 10-2003 |
I like the second one better; less lawn to mow. | ||
Rugbyman Member Username: Rugbyman Post Number: 264 Registered: 06-2005 |
So being the nerd I am I calculated what an investor buying the place at $1 million could get out of it yearly. Taxes are $20K/year. Utilities paid are $30K per year. Mezzanine apparently pays $250K per year in rent. The top three floors are two two bedroom lofts and one three bedroom. If you were to buy it for $1 million, your loan payments would be about $72k per year. Tack on your utilities and round to $100k. Insurance... ehhhhh, don't know. Moral: it's not too out of the realm of possibility that you could have about $100k in yearly profit BEFORE finishing the top three levels of lofts. Throw another $40K in loft rental income and you've got a nice investment going. So, uh, anyone want to put up a million in collateral? | ||
Rugbyman Member Username: Rugbyman Post Number: 265 Registered: 06-2005 |
And by "the place" I clearly mean Wright Kay. | ||
Bigjeff Member Username: Bigjeff Post Number: 163 Registered: 08-2006 |
The gentleman that owns the Wright Kay building has had it for sale for 2.5 million online for a while now. | ||
Drankin21 Member Username: Drankin21 Post Number: 193 Registered: 12-2003 |
I'm in! | ||
Iheartthed Member Username: Iheartthed Post Number: 2816 Registered: 04-2006 |
Was the Wright K building converted into apartments? | ||
Kimistree Member Username: Kimistree Post Number: 111 Registered: 01-2004 |
Before the architecure firm bought the Wright Kay building I lived in it on the third floor. That was in 1995. In the auction ad that is the floor that is yellow. I had a friend that lived on the second floor also. Itt was home to Haberman Fabrics,and then converted into loft spaces after they closed the downtown store I don't know what year that was. Mr. Haberman was our landlord. If I can dig them out I have pictures of the interior of the building that I took before I moved. I will post them when I find them. I really really wish I had the money to by it, I certainly would! It is beautiful. | ||
Darwinism Member Username: Darwinism Post Number: 714 Registered: 06-2005 |
Perhaps an arrangement such as the FSC and the Vinton can be planned for these 2 properties. The Wright Kay is definitely a great building. If such an opportunity comes about, please count me in. |
