Re: Re:
Bruno are you sending me something tonight,
Hope to see it soon,
David
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DAVID MITCHELL
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Mitchell Holdings LLC
745 Fifth Avenue
New York NY 10151
USA
Morning David,
thanks for following up and the patience as we had our holiday party yesterday:
As mentioned we'd be looking for something where there is more flexibility in repositioning it towards extended stay, which I'm not sure the current lender structure supports. We can do 6 months deposit and underwrite taking on the occupancy risk with a $2.8.3MM net lease and some shared upside. Purchase wise it'd need to be closer per key to what Thor paid for the James in Soho + air rights (assume —545MM).
Fully understand if that doesn't work for you and agree on the decent chance to make it well through the current phase of increasing oversupply, and of course open to any ideas you might have on your end (creative solutions included, after all the main advantage of a startup.)
Around for most of the day, all the best in the meantime,
Bruno
Sent from a mobile device
update below, if I can get him to $3.2 net with escalations it might work
$60,000,000 x 5%
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DAVID MITCHELL
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Mitchell Holdings LLC
745 Fifth Avenue
New York NY 10151
USA
his numbers are the same as my tummy. yes , i would do it. get away from it and the maniac
are you around tomorrow,
DAVID MITCHELL
Mitchell Holdings LLC
745 Fifth Avenue
New York NY 10151
USA
im in palm