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Subject: Re: Columbia practice bubble debuts

florida lion
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Date Posted: 19:06:53 02/06/17 Mon
In reply to: An Observer 's message, "Re: Columbia practice bubble debuts" on 15:47:55 02/06/17 Mon

Was Sovern involved in Peter Minuit's purchase? Seriously, Morningside Heights
and Baker Field real estate have nothing to do with one another. They are miles apart. I understand CU sold 4 or so acres of Baker Field land (in exchange for a couple of million and an acre nearby) for some NYC municipal purposes. But, there is no way that parcel is currently worth $50 billion plus. That said, the lack of this land is likely the reason for the new athletic bubble. And I further agree that universities should look at the very long term and be very reluctant to sell off land, certainly in NYC.

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An Observer
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Date Posted: 19:51:52 02/06/17 Mon

So it sounds like there was some horse-trading with a NYC municipal decision-making entity regarding the Baker Field parcel. That's what I was guessing.

No, the $50 billion or $100 billion numbers I tossed out referred to Columbia's decision in the 1890's not to buy the land west of Broadway between 110th and 120th down to the Hudson. What do you think that's worth? Think about the multi-billion numbers associated with the Hudson Yards and then compare their relative sizes.

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