New plan to make millions in profits without any investment
A standing google alert on the "Roosevelt Hotel" in NYC brought me this article on another way for the foreign owner of this excellent acre in Manhattan to make money without selling the site. It suggests that this method might be quite profitable for a number of individuals in that country's government.
The back story, as I've gleaned it, is contained in some earlier posts to this blog.
The article slightly mis-states the situation. It is not the Roosevelt Hotel which is worth $300 to $400 million; rather, it is the ground under the hotel, which is a well-located full-block, roughly an acre, in midtown Manhattan. Estimates of its value a few years ago, as a tear-down, ranged from $400 million to $1.2 billion. When the real estate market went soft, it was clear that waiting a few years for it to revive would be quite profitable.
This article, though, suggests that a lot of individual politicians stand to make individual profits through a different strategy.
Remember what Leona Helmsley told us: "WE don't pay taxes. The little people pay taxes." The little people's taxes provide the services which make this acre worth $400 million.
A standing google alert on the "Roosevelt Hotel" in NYC brought me this article on another way for the foreign owner of this excellent acre in Manhattan to make money without selling the site. It suggests that this method might be quite profitable for a number of individuals in that country's government.
The back story, as I've gleaned it, is contained in some earlier posts to this blog.
The article slightly mis-states the situation. It is not the Roosevelt Hotel which is worth $300 to $400 million; rather, it is the ground under the hotel, which is a well-located full-block, roughly an acre, in midtown Manhattan. Estimates of its value a few years ago, as a tear-down, ranged from $400 million to $1.2 billion. When the real estate market went soft, it was clear that waiting a few years for it to revive would be quite profitable.
This article, though, suggests that a lot of individual politicians stand to make individual profits through a different strategy.
Remember what Leona Helmsley told us: "WE don't pay taxes. The little people pay taxes." The little people's taxes provide the services which make this acre worth $400 million.
Comments