The Hidden Benefit of Conservative Underwriting

Real Estate Bisnow New YorkApril 29, 2013
And at Chelsea's 50-unit Walker Tower condos, JDS underwrote to $1,600/SF sales in '09. Now, with delivery approaching this fall, it's raking in $3,600/SF with only a few units left. JDS bought the old Verizon switch building in '08 for $25M and invested $200M to convert it, increasing the usable square footage from 108k SF to almost 200k SF.