Iconic Glass Structures – Lipstick Building
21 Best Painting contractors - Advice, Tips, Helpful Forums - While this arrangement sounds like a little bit of real estate intrigue, the building’s operator had an option to buy the land under the building at certain prescribed points in the lease. Earlier this year, the ground underneath the building was sold for nearly a half-billion dollars. If the operator does not elect to buy the land, the land owner can renegotiate the lease rates for the building. The building operator still maintains the option to buy the land and can exercise it once every 10 years, beginning in 2020, the owner of the land has changed.
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