Interesting. I wonder what that means for a number of the tenants, especially the food court.

Nothing probably

Means rent will go up, probably little else. Considering this was just renovated, it seems unlikely it will be razed for new construction.

The pivot Mack-Cali/Veris did is pretty insane...

> multifamily properties now account for 98 percent of Veris’ net income, the REIT said, up from 39 percent at the start of last year

https://therealdeal.com/tristate/2022/10/14/veris-sells-jersey-city-offices-for-766m-nearly-completing-pivot-to-resi/

Gonna depend a lot on what the leases say. Let's just say I won't be surprised if there's slightly higher turnover there.

hopefully it will be less of a ghost town

Some of the new residential buildings in the area will help.

Office buildings sell all the time. I doubt the new owner will shoot themselves in the foot

420 you say? maybe Elon Musk bought it?

Why is it so eery and empty? Every time I walk by on the boardwalk, I see all those high-top tables and chairs through the window and it looks so lonely. Is there anything in there except Bright Horizon? Is that florist ever open? So much empty retail space. Looks like some pedestrian tunnels in the subway.

Before the pandemic and renovation there was some life with Piggyback bar, and there were active shops in that corridor, but they haven't really brought anything back yet. The other bar that had opened seems to be closed still too.

He'd just tweet about it, make an offer, and then back track after asking if the residents are real or bots.

The buyer, The Birch Group, has quite the opposite portfolio. Almost all suburban office.

https://birchgroupllc.com/portfolio/

Pre pandemic and pre renovation, I used to work across the street and get lunch there all the time. It was always lively with people from the office towers nearby. Post pandemic, we went WFH (as did a lot of others), and the place was never the same.

I went to a couple beer fests there pre-pandemic and the whole complex had a hollow, faceless feeling to it.

Yeah but he’s actually buying now.

Their board was voted out by a private equity firm that took over and changed the direction of the company.

Now that he supposedly wants to buy, Biden might veto it. Lol.

If you've told 5-years-ago me this, I would have said you're crazy. Now? It's plausible...

Probably a good direction now that with pandemic office spaces are going empty

I used to work nearby before COVID too. It was only busy on weekdays until like 6:30pm or 7pm. It was a complete ghost town on weekends.

I know it’s technically a historic building, but I think they should’ve just demolished the whole building instead of renovating. The layout of this massive multi-block long building is inherently uninviting and I don’t think the renovation did enough to change that.