About 

88 Broad Street/ Ground Up Rebuild
Due to Hurricane Sandy building has 5 1/2 feet of water on the ground floor and fully filled with water basement.  The building needed a new foundation, new structural steel, and new facade.  The building skin slid down the building due to water damage and a fire.  As the building manager was able to complete rebuild for $2.5M.

Buying and selling buildings profitably is contingent on costs and timing . Without a knowledge of cash flow one will go bust. Every building bid on that walked away from due to foolish bids sent into bankruptcy. Saw this with 597 Fifth Avenue, 315 Park Avenue South, 386 Park Ave. South,  With tenants moving into offices or retail space.... unless you break down your revenue vs. expenses before there will be unhappy circumstances resulting from the move. Cash flow is vital to project before one makes a move.