Real Estate Business?
...Of course its making millions of dollars in its real estate sales but this a one time event...
You're kidding, right? You really believe that they are going to stop milking that cow?
OUTLAW, you stole my line, but I'm glad. Time and time again I have been posting the same information. I have to say, cognitive dissonance is a --tch!
In the Hudson Valley NY and surrounding area----Wat Farm and other houses and land adjacent to the farm, commercial property warehouse/manufacturing building on Bracken Road, Montgomery NY, relatively newly built Marriott Gardens on rt 300 Newburgh NY, Hampton Inn right down the road from the Marriott, a diner right next to the Hampton, (the former Marriott, Hampton, and diner are very close to their flagship Newburgh Assembly Hall), fairly high end apt complex across the Hudson River (overlooking the river, you can see it from the bridge), another complex north of that one where they built a state of the art production studio (not sure where this one is but I think it also has river views), Patterson and adjacent houses and land, Tuxedo where the new complex was suppose to be, and of course the new Warwick complex, "the Place At the Lake." Don't know what's left or what they are hanging onto in Brooklyn. Gotta see if they want to buy my house.
on the same subject take a look at what the WTBS Inc New York
was doing more than a decade ago...it a very long reading but full of informations.
filed and saved , in case you should wish more informations!
Here is the old post:
I see your point about the Catholic Church, IBM, AT&T, and "every corporation". However, I think that those entities invest in real estate not as a primary or significant means of income. Also, they might invest in to just for their own use - to carry out their own businesses or purposes - to build up their own infrastructure.
I think the points of others posting on this thread have to do with the apparent fact that org is now focused on real estate as a means to make money since it realizes that the print medium is dying and it can longer make money from it. Since the org is seemingly getting a lot (or most of) its money from real estate, I think it can be rightly said that it is in the real estate business.
I've just receiced an e-mail requesting a recent example:
here below the information:
WTBS Inc New York (USA) propertysale
105 Willow St
105 Willow St
117 Adams St
107 Columbia Heights
119 Columbia Heights
124 Columbia Heights
161 Columbia Heights
165 Columbia Heights
183 Columbia Heights
25 Columbia Heights
97 Columbia Heights
30 Columbia Heights
58 Columbia Heights
58 Columbia Heights
173 Front St
177 Front St
175 Pearl St
200 Water St
34 Orange St
50 Orange St
55 Furman St
1 York St
69 Adams St
81 Prospect St
67 Furman St
67 Remsen St
75 Adams St
86 Willow St
76 Willow St
21 Clark St
80 Willow St
85 Jay St
90 Sands St
98 Montague St
77 Sands St
The Society of UK , buys
£ 1.000.000 luxury sea-front property in Wales, UK
· The WTS has purchased a luxury sea-front property in Wales allegedly to be used for people working on translating publications into the Welsh language.
Superbly positioned above The Menai Strait with direct water access, Y Gwylain has been impressively developed to a high standard by the present owner and is highly recommended for an internal viewing. The property comprises of entrance hallway, reception hallway, impressive open plan 'live in kitchen/family room', lounge, sitting room, games room, 2 studies, utility, cloakroom, shower room, 5 double bedrooms, four en-suites and a family bathroom. The property benefits from having gas central heating, double glazing, garage, established landscaped gardens with decked areas and pond. The property enjoys fantastic sea view of The Menai Strait, The Menai Suspension Bridge and across to Anglesey.
Entrance Hallway Hardwood door with double glazed side panel, high pitched ceiling with double glazed Velux window, three wall light points, meter cupboard, cloaks cupboard, oak doors, Travertine flooring with underfloor heating and glazed doors leading to:
Reception Hallway 13'9" (4.2m) x 24'7" (7.5m) max (9'2" (2.8m) min). Open spindled staircase to the first and second floors and oak glazed doors leading to lounge.
Lounge 18'4" x 20'4" (5.59m x 6.2m). Cast iron multi fuel burner on a raised slate hearth, six wall light points, television aerial point, engineered oak flooring, radiator, vaulted ceiling, double glazed patio doors and double glazed windows to the rear and side from which there are views across the extensive rear garden and Menai Straits to the Isle of Anglesey.
Kitchen 32'10" x 17'9" (10m x 5.4m). Open plan living kitchen and family room. Kitchen Area - There is a range of drawer and base units in a cherry finish with dark stone style block end worksurfaces over, island unit with breakfast bar, inset five ring induction hob with splashback and extractor above, inset one and a half bowl sink unit with mixer tap, integral dishwasher, integral fridge, Travertine flooring with underfloor heating, double glazed patio doors leading to the rear garden, two wall light points and recessed halogen downlighters. Living Area - High pitched ceiling with halogen downlighters, Travertine flooring with underfloor heating, two wall light points, additional patio doors leading to the garden, oak glazed door leading to the utility room and panoramic views of Menai Straits including The Menai Bridge and The Britannia Bridge.
Utility Room Range of drawer and base units with roll top worksurfaces over, single drainer sink unit with mixer tap with storage cupboard below, plumbing for washing machine, space for fridge and freezer, double glazed door leading to the rear garden, Travertine flooring with underfloor heating and high pitched ceiling with halogen downlighters.
Shower Room Modern white suite comprising corner glazed shower cubicle with mixer shower, low flush WC and pedestal wash hand basin with mixer tap, ceramic tiling up to a mosaic border, halogen downlighters, extractor fan, heated towel rail and Travertine flooring.
Sitting Room 19' x 10'10" (5.8m x 3.3m). Double glazed patio doors leading to the rear garden, radiator, engineered oak flooring, television aerial point and door to:
Office 9'10" x 17'9" (3m x 5.4m). Double glazed picture window with views across the decked garden to Menai Straits, double glazed patio doors leading to the side garden, telephone point, radiator and engineered oak flooring.
Games Room 22' x 20' (6.7m x 6.1m). Double glazed window and patio doors leading to the rear garden, six wall light points, three halogen downlighters, central lighting unit fitted for pool table, two radiators, laminate flooring, understairs storage cupboard, door to the second staircase and oak panel door to:
Second Office 7'3"x 5'3" (2.2mx 1.6m). Double glazed window, fitted work station and radiator.
Gallaried Landing Open spindle blaustrade, stairs leading to the second floor, four wall light points, radiator, airing cupboard and oak panel door leading to the master bedroom.
Master Bedroom 20'4" x 18'8" (6.2m x 5.7m). Floor to ceiling double glazed windows with patio doors leading to the raised decked balcony with balustrade and has views across to The Menai Strait and Isle of Anglesey, two radiators, fitted wardrobes incorporating four double wardrobes, three wall light points and oak panel door leading to:
En-Suite Modern white suite comprising hand wash basin with mixer tap, low flush WC and walk in shower cubicle with mixer shower and fitted body jets, heated towel rail, recessed halogen downlighters, extractor fan and ceramic tiled flooring.
Family Bathroom Modern white suite comprising hand wash basin with mixer tap, ceramic tiled bath with shower tap attachment and low flush WC, shaver point with fitted mirror lighting unit, walk in shower cubicle with shelf, heated towel rail, ceramic tiled to a mosaic border, ceramic tiled flooring, double glazed window, recessed halogen downlighters, extractor fan and built in linen cupboard with radiator.
Bedroom Three 14'1" x 11'2" (4.3m x 3.4m). Radiator, double glazed patio doors overlooking the rear garden and has access to a raised decked balcony area.
Rear Inner Hallway Stairs to the games room and door to:
Bedroom Four 17'5" x 19'4" (5.3m x 5.9m). Floor to ceiling double glazed windows and double glazed patio doors leading to the rear decked garden, sea views and views to The Menai Strait, radiator and oak panel door leading to:
En-Suite Modern white suite comprising low flush WC, pedestal wash hand basin with mixer tap, fitted lighting mirror unit, shaver point, walk in mosaic tiled shower cubicle, ceramic tiled to a mosaic border, recessed halogen downlighters, heated towel rail, extractor fan, double glazed window and Travertine tiled flooring.
Landing Double glazed roof window with sea views and views to The Menai Strait and Isle of Anglesey, radiator, light point, open spindle balustrade and doors to:
Bedroom Five 16'9" (5.1m) x 18'8" (5.7m) (limited headroom). Double glazed Velux windows to the front and rear, to the front there are sea views and views to The Menai Strait and Isle of Anglesey, two radiators and oak panel door to:
En-Suite Glazed corner walk in shower cubicle with mixer shower, vanity hand wash basin with storage cupboard below, fitted lighting mirror unit, ceramic tiled splashbacks, integral WC, double glazed Velux window, heated towel rail, extractor fan and Travertine tiled flooring.
Store Room 31'6" x 12'2" (9.6m x 3.7m). Double glazed Velux window.
Hi, no-zombie. I have a question for you. Let's put the issue aside and ask: What business is McDonald's in?
Harry devised a formula for the monthly payments being made by our operators that paid our own mortgage and other expenses plus a profit. We received this set monthly minimum or a percentage of the volume the operator did, whichever was greater. (Ray Kroc)
It was then that Harry’s view of the corporation as just a real estate business, rather than a hamburger business, began to crystallize. (Ray Kroc)
[Getting involved in real estate] This was the beginning of real income for McDonald’s. (Ray Kroc)
no-zombie - "...Of course its making millions of dollars in its real estate sales but this a one time event..."
Stick around some, buddy.
You might learn a thing or two.
"One time event..." LOL!!!!!
I tend to agree with no-zombie. WTBTS seems to be just liquidating whatever assets it can. If WTBTS is seriously trying to become a real estate business, then it is going about it the wrong way, in many respects.
The problem with owning buildings and facilities is that it takes cash flow to maintain and operate them. You can't just buy a building and let it sit. It seems the WTS biggest issue is surrounding a lack of donations. Remember they said not too long ago that they spend more than is coming in.
So what if they've decided to change their strategy on making money. Instead of investing in tax free real estate, they invest in other vehicles. We know they are involved in the stock/bond market. We know they go to hedge fund conferences, etc. Why not switch your model to be less reliant on real estate and more on otherwise passive investments. It's riskier but it's liquid and doesn't require cash flow to maintain. You just have to pay the advisers which is much cheaper than running a factory.
Just a thought.