meta_pixel
Tapesearch Logo
Log in
The John Batchelor Show

PREVIEW: #CRE: Excerpt from a conversation with colleague Chris Riegel of Scala.com re the report of a Canadian pension fund selling a well located 26th and Park Avenue South NYC office building fior $1.00 plus taking over the loan servicing. More of th

The John Batchelor Show

John Batchelor

News, Arts, Books, Society & Culture

4.52.8K Ratings

🗓️ 29 February 2024

⏱️ 3 minutes

🧾️ Download transcript

Summary

PREVIEW: #CRE: Excerpt from a conversation with colleague Chris Riegel of Scala.com re the report of a Canadian pension fund selling a well located 26th and Park Avenue South NYC office building fior $1.00 plus taking over the loan servicing. More of this later today.

1900 Ottawa

Transcript

Click on a timestamp to play from that location

0:00.0

With the Purina 1 three week challenge, I can see a visible difference.

0:04.4

My cat has a great appetite.

0:06.2

They're full of energy, has a healthy digestion,

0:08.9

and their eyes are so bright.

0:10.8

So why not introduce your cat to Purina 1 nutrition?

0:15.0

It balances the bad and good bacteria to help support their gut microbiome.

0:20.4

To start the three week challenge, search for Purina One's blue pack online and in store.

0:26.0

Purina One, visible health for today and tomorrow.

0:30.0

This is John Batcheler, Commercial Real Estate, conversation with my colleague Chris Regal, the CEO of scholar.com, about a news item, a large pension fund from Canada owning lots of real estate has sold a building on Park Avenue

0:46.9

South at 26th Street. Primary location, beautiful building, has sold it for a dollar. You take over the debts, give me a dollar,

0:55.0

I'm walking away from my portion of this building. This underlines what's happening in

0:59.7

Manhattan and across the country, Chris assures me.

1:03.4

There was another news item about the Pennsylvania Hotel torn down by Vornato, aiming to build a

1:09.9

61 floor tower. However, that's been delayed so they're going to put tennis courts in.

1:17.0

Right across from Pennsylvania Station. Very odd. And what's happening in real estate. Here's Chris to explain what this means

1:25.5

for the future for other prices because these were primary locations.

1:30.1

Chris Regal, scholar.com, on Commercial Real Estate in Manhattan and everywhere.

1:37.1

It certainly affects everyone's prices.

1:38.8

This is extremely troubling for the simple reason that pension funds are extremely long-term investors.

1:46.0

They can withstand storms, they can withstand market disruptions, and typically the better investors in those marketplaces can buy new inventory can make great

1:57.8

long-term returns would you have a crisis if they're walking away from this building they see no hope for that over what might be a 10, 20, 30 year horizon.

2:07.0

It's terrifying that they're walking away because that should send shock waves through that long-term institutional investors with unlimited

...

Please login to see the full transcript.

Disclaimer: The podcast and artwork embedded on this page are from John Batchelor, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of John Batchelor and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.

Copyright © Tapesearch 2026.