Greenwich Avenue still attractive to investors, anyway

I ‘m not a frequent shopper on the Avenue (although I do intend to make my way to the Apple store and check it out) but that doesn’t mean much – I’m not the Avenue retailers’ target audience. Apparently the people those retailers do want to attract are still coming, because 75 Greenwich Avenue just sold for $8,000,000 an amount that Greenwich time says is a record. I ‘ll take their word for it. The article implies that the buyers were foreign investors, taking advantage of the cheap dollar, and are interested in expanding the building upward from one story to the legally permitted three. I haven’t checked its assessment but, in the past, the town has woefully under-valued and thus under-taxed property on the street. If that’s the case here I hope an immediate adjustment will be made so the buyers can take further advantage of our currency exchange by paying increased taxes with our weak dollar.

Advertisement