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A VC bought the Flatiron Building and didn’t pay for it

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Re: A VC bought the Flatiron Building and didn’t pay for it

#31

Post by kevinmchugh »

advisedwang wrote: post #27
jeron wrote: post #14

Just visited Flatiron building a few days ago. There’s scaffolding covering the front and sides, are those renovations being done by the existing owner?

Do you recall whether the scaffolding went all the way up? My understanding is lots of NYC buildings have 1 level of scaffolding about the sidewalk as there is a law requiring regular checks against bits of the facade falling off and the scaffolding is a "temporary" alternative that allows them to avoid that expense.

The first episode of the series How To With John Wilson is about NYC scaffolding - highly recommended.

Re: A VC bought the Flatiron Building and didn’t pay for it

#32

Post by dougSF70 »

readthenotes1 wrote: post #15
kristjansson wrote: post #4

A landmark skyscraper held as a tenancy-in-common, a forced partition sale, a rouge bidder, ... some lawyers are having a field day with this.

it's always the rouge bidders that do it dirty! always favor the cerulean bidders!!

They bid until they are red in the face.

Re: A VC bought the Flatiron Building and didn’t pay for it

#33

Post by Fatnino »

sacnoradhq wrote: post #25

If you like triangular buildings, the original Apple HQ was: 5300 Stevens Creek Blvd San Jose, CA 95129 Until around the early 1990's, it had the multicolored Apple II logo on the side facing I-280. Accolade with Peter Harris was a tenant at one point.

I hate that intersection. I regularly find myself on Lawrence headed north and need to get to 280 north and it's not pretty.

First I have to get to the right side, but not all the way to the right or it will throw me to 280 south. So second from the right, but immediately after passing the 280s onramp I need to get more to the right where I get off Lawrence and find myself at a red light with 3 left turn lanes but the rightmost of those is already packed up with cars coming off 280n so usually I'm in the second from the left lane. During that left turn I have an eye on getting over to the right because I need to be in the far right lane on Stevens Creek to even be in position to cross the green bike lane into the actual lane that gets me to 280n. That lane is usually already filled with cars coming off Lawrence south and there's a light in the middle of it so I'm trying to merge into standing traffic. Or else waiting at the light and trying to make the short merge after the light.

By far the most stressful bit of southbay driving I ever encounter.

Re: A VC bought the Flatiron Building and didn’t pay for it

#34

Post by lamontcg »

rchaud wrote: post #17

The absurdity of this is off the charts. Someone can just raise one of those ping-pong paddle things, name a price, and win? Don't you at least have to put down a deposit of some kind to participate?

It is manifestation. If he acts like he owns the building and has a positive mental visualization of it, he'll manage to find some way of paying for it.

Re: A VC bought the Flatiron Building and didn’t pay for it

#35

Post by valley_guy_12 »

sacnoradhq wrote: post #25

If you like triangular buildings, the original Apple HQ was: 5300 Stevens Creek Blvd San Jose, CA 95129 Until around the early 1990's, it had the multicolored Apple II logo on the side facing I-280. Accolade with Peter Harris was a tenant at one point.

I don't think that was the original Apple HQ, I think it was just one of many buildings that Apple occupied around Cupertino in the '80s.

Re: A VC bought the Flatiron Building and didn’t pay for it

#36

Post by cperciva »

rchaud wrote: post #17

The absurdity of this is off the charts. Someone can just raise one of those ping-pong paddle things, name a price, and win? Don't you at least have to put down a deposit of some kind to participate?

Usually auctions have some sort of deposit requirements, but where large companies are involved it's sometimes just "show us that you have at least $X in the bank" (cash or treasuries or similar) on the theory that they can be sued for specific performance if they don't pay up.

Re: A VC bought the Flatiron Building and didn’t pay for it

#37

Post by tombert »

dylan604 wrote: post #20
Arrath wrote: post #9

Earlier quoted context omitted.

Once he's done with it it will require even more extensive renovation, though.

Why? no business is to be conducted there, so it should be okay

In theory, but it did seem like a fair amount of business was conducted there...

Re: A VC bought the Flatiron Building and didn’t pay for it

#38

Post by kristjansson »

readthenotes1 wrote: post #15
kristjansson wrote: post #4

A landmark skyscraper held as a tenancy-in-common, a forced partition sale, a rouge bidder, ... some lawyers are having a field day with this.

it's always the rouge bidders that do it dirty! always favor the cerulean bidders!!

Damnit that's what I get for typing quickly

Re: A VC bought the Flatiron Building and didn’t pay for it

#39

Post by chirau »

advisedwang wrote: post #27
jeron wrote: post #14

Just visited Flatiron building a few days ago. There’s scaffolding covering the front and sides, are those renovations being done by the existing owner?

Do you recall whether the scaffolding went all the way up? My understanding is lots of NYC buildings have 1 level of scaffolding about the sidewalk as there is a law requiring regular checks against bits of the facade falling off and the scaffolding is a "temporary" alternative that allows them to avoid that expense.

Right now it is full on scaffolding. Not the green stuff that is everywhere in the city. It covers the whole building, you can barely see the sides.

Re: A VC bought the Flatiron Building and didn’t pay for it

#40

Post by [deleted] »

chirau wrote: post #39
advisedwang wrote: post #27

Earlier quoted context omitted.

Do you recall whether the scaffolding went all the way up? My understanding is lots of NYC buildings have 1 level of scaffolding about the sidewalk as there is a law requiring regular checks against bits of the facade falling off and the scaffolding is a "temporary" alternative that allows them to avoid that expense.

Right now it is full on scaffolding. Not the green stuff that is everywhere in the city. It covers the whole building, you can barely see the sides.

[deleted]
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