tag:blogger.com,1999:blog-4863014635257598503.post7370981916991176422..comments2024-02-27T22:18:53.706-05:00Comments on Zero Hedge: NY Times Completes Sale Leaseback, Implies Class A NYC Lease Rates To PlummetTyler Durdenhttp://www.blogger.com/profile/00165439451205639523noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-4863014635257598503.post-50394116980416425742009-03-15T00:09:00.000-04:002009-03-15T00:09:00.000-04:00the article mentions:"...both companies characteri...the article mentions:<BR/>"...both companies characterized the agreement more as a loan secured by the building than a real estate transaction"<BR/><BR/>RUBBISH. the "loan" part:<BR/>pay $225M, collect $24M per year, receive $250M in 10 years. <BR/><BR/>This is like a 10 year bond with minimal risk (you get to own the building) yielding 10% interest.<BR/><BR/>BUT WAIT. THE "OWNER" hacks off the depreciation of owning the building! hmmm so it YIELDS MUCH HIGHER. a MUNI bond (tax free) that yields 10%! In todays MARKET!Anonymousnoreply@blogger.com