Guest post by Bright Start News

Abu Dhabi is selling the Chrysler building (did you know they owned it?) and they’re taking a devastating loss.

ALL THANKS TO AOC-DEMOCRAT STYLE FREE TUITION!

People walking on the street below should look up as they pass by to make sure no Sovereign fund managers land on them.

RFR Holding has made an offer to buy the Chrysler Building for between $100 million and $200 million, far below the $800 million paid for a 90% stake in 2008 https://t.co/U53xSl6djd — Bloomberg (@business) March 8, 2019

TRENDING: BREAKING: Senate Finance and Homeland Security Committees Release DEVASTATING Report on Hunter Biden, Burisma and Corruption -- CROOKED BIDEN FAMILY ENRICHED THEMSELVES AND OBAMA KNEW!

So the Chrysler building sold for $90 mil less than Kenny Griffin's apartment. Makes sense. — Tom Hearden (@followtheh) March 8, 2019

Turns out they’re willing to take that big of a loss because the rent is too damn high!

While the building is owned by one entity, the land under it is owned by another, and the rent is climbing higher than the sky scraper itself.

It reported that the building’s owners do not own the ground beneath it and pay annual rent that went up from $7.75 million to $32 million in 2018 and was set to increase again to $41 million in 2028. Citing brokers, the newspaper said those fees ‘have eaten away at much if not all of the building’s revenue.’ The building also has some 400,000 square feet (37,160 square meters) of space that is either vacant or will become so in the coming years, the Journal said. (more..)

Wow. Those are some STEEP increases in two years. Who is this price gouging landlord?

A liberal university of course! Cooper Union. They’ve run themselves into the ground, and are now forced to take emergency measures to stay alive. This is from their outside financial monitor, which they need because they’re incapable of running a business.

The school is a bloodbath of red ink.

Budget Items: Faculty stipend – Budget Deficit ($545,508) Employee benefits: Prescription plan union staff – Budget Deficit ($350,305) Employee benefits: FICA – Budget Deficit ($125,600) Employee benefits: STD administration – Budget Deficit ($103,097) Engineering school: Staff full time – Budget Deficit ($543,448) Engineering school: Faculty full time – Budget Deficit ($124,223) Engineering school: Allocated fringe benefit – Budget Deficit ($118,036) Engineering school: Allocated Payroll Taxes – Budget Deficit ($107,009) Buildings & grounds: Contracted svc other – Budget Deficit ($277,031)