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Hagardy t1_j5mpsd9 wrote

Reply to comment by Twombls in Interesting opinion piece in Seven Days -- wondering how those in Burlington feel? by betcaro

this is kind of amazing, this developer made 1.5 million by buying the building and letting it sit vacant for a couple of years (bought for 3 million, didn’t touch it, just sold for 4.5)

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Practical-Intern-347 t1_j5o1tfo wrote

They probably spent $2M paying taxes/insurance, hiring architects and engineers to design a hotel, paying a hotel franchise fee, paying staff salaries, etc. I doubt they made money.

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[deleted] t1_j5q0m0m wrote

That $2M is all "business losses" for taxation purposes

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