Marquette Building in downtown Detroit sells for $5.8M

[Dbest]

Isn't it boring having all of these threads on downtown Detroit buildings being sold. Lol.

Wonder if the buyer will stop at one? He has quite a portfolio of investments, including 17% of the N.Y. Times.

"A Mexican businessman whose international empire is worth an estimated $76.2 billion has bought a nearly empty building in Detroit.
The property: the Marquette Building, a 10-story structure at the corner of West Congress Street and Washington. It may be best known for having an Office of Michigan Secretary of State on its ground floor that closed a few years ago."

http://www.detroitnews.com/story/bus...roit/25378111/

Holy Shit, I was thinking that 76 billion seemed like a pretty high net worth. Well thats because its the biggest fortune outside of Bill Gates for crying out loud! The word is out on Detroit, and the second richest man in the world wants in!

Now if somebody could just introduce him to Fernando Palazuelo and his Packard facility, things could get interesting....

[emu steve]

Holy Shit, I was thinking that 76 billion seemed like a pretty high net worth. Well thats because its the biggest fortune outside of Bill Gates for crying out loud! The word is out on Detroit, and the second richest man in the world wants in!

Now if somebody could just introduce him to Fernando Palazuelo and his Packard facility, things could get interesting....

When folks with very, very deep pockets want into a city that means the word is out that there are very good investment opportunities in real estate.

Just another sign that until Detroit real estate becomes over priced, compared to its 'true worth', that things will continue to get better and better [[just like an undervalued stock market - folks buy bargains until what they are buying is no longer a bargain...).