Preftakes Block

[G.Walker]

I am sure it will be something to compliment Devon employees, probably hotel or condos, either is win win situation...I say wipe out the whole block, except for Hotel Black...

[Reno and Walker]

He bought the lunch box from me a couple years ago. I will never tell.. sorry Spartan I have all the secret info..

[Reno and Walker]

I hated to see frank bruno's building demolished. Nick is still trying to buy the union bus station.

[Reno and Walker]

Spartan if you were a half way cool guy, I would let you in on a lot more info. Nick and I are good friends.. Frank papahronis sold me the lunch box property back in 2001..

[Pete]

R&W, nice little profit you made on that Lunch Box property!


Given how much Preftakes has paid for these various properties, I'm sure he wants to pull some of them down and build up.

He didn't pay $750K for that little Lunch Box building just to collect rent from the restaurant (or any other tenant) as he has to be losing his shirt. And apart from One North Hudson, all those properties are either completely empty or vastly underutilized.

[Reno and Walker]

I am still curious to see if the guys out of Houston will sell the Bus Station to him. I hope so he is a really great guy..

[Pete]

Here are all the properties he owns.

Apart from One North Hudson (15) and the building next to it (14) for which he paid $5,000,000, he has spent over $8,000,000 on the other properties, all of which are small (one or two story) and generate little revenue or are empty.

The only way to make this investment come close to working is to pull down pretty much everything and rebuild. I'm sure that's his plan, although perhaps he will re-purpose the parking garage or just use it as part of the new development.

[okclee]

Pete.....Thanks, your color coded Maps are Awesome! Love how you keep track of Okc real estate dealings.

[Steve]

[Reno and Walker]

Pete you forgot to include the 50 feet of parking lot west of #12 or Frank bruno's old building. cannot tell if thats in the green or not. have you noticed the nice fence he put up for the Buses to maneuver around.

[Pete]

Isn't the old Bruno building #12? It's shown in the photo but now demolished.

[Reno and Walker]

Yes thats frank bruno's building he also owned the small lot to the west of the building. I believe it was about 50 feet wide.

[Reno and Walker]

man #9 is a heck of a deal for 90K

[Reno and Walker]

He did not approach coney island

[Pete]

BTW, 5 & 6 were purchased together as were 14 & 15.

[mugofbeer]

I gotta say, with the money used to buy the block, he didn't do it just to renovate whats there and leave it alone. Prepare for the eventuality that they're coming down for a new development of some sort.

[Dar405301]

reno & walker,
could you possibly tell us when we can expect to hear or find out about mr. preftakes' plans for that block? will it be soon?

[Dar405301]

reno & walker, is there any way you can tell us when we can look forward to hearing or finding out about mr. preftakes' plans for this block? will it be soon?

[Reno and Walker]

Still trying to acquire union bus station

[Spartan]

Spartan if you were a half way cool guy, I would let you in on a lot more info. Nick and I are good friends.. Frank papahronis sold me the lunch box property back in 2001..

Oh, well now I will definitely have to start sucking up. Just let me know when I've approached half-way cool guy status! haha

By the way, would the bus station HAVE to be moved for this block to be redeveloped? I think the Union bus station there is really cool. Perhaps it could make a nice restaurant if it did have to be moved away from the site for redevelopment. Perhaps an alternative could be connecting the development through the city parking lot in the interior of the block. I am sure the city would sell that to a prospective buyer.

[Kerry]

As long he puts up new buildings he could tear the whole block to the ground for all I care.

[Spartan]

No, Kerry...there's character there.

Some things you have to save:

[Kerry]

Spartan - how do you know the new buildings wouldn't have character? Why should something built 90 years ago take precedint over something built today on a planet that is billions of years old? What I don't like is when building are torn down and NOTHING is put back in their place. Of course, there is always the risk that the new strucutre might be uglier than what was taken down (Penn Station for example) but that is a chance I am willing to take.

[bombermwc]

I'd see that as a pretty short-sighted historic view there Kerry. I thought you were such a preservation proponent. I can't remember then name of the building with the green awning, but I would compare that much the same to the Montgomery. That building is a jewel, and you wouldn't want to see it go would you? That block is filled with mostly boring blah brick-faced buildings that have seen more neglect than care over the last 20 years. I would just say that we can't use a broad tipped brush when we look at it, it's got to be a fine point. Something like the city building is also a jem...id hate to lose it....which happens to be across the street from the Montgomery.

What's so weird here is that normally I would think that if someone was buying up land like that, they would have a plan for something to take up the whole block. BUUUUUT, with all the class A space opening up from Devon moving, there isn't really a need for new office space right now. So unless it's going to be built for a specific company, I don't get it. Otherwise, why would someone buy up land in a block like this.....the properties aren't all good investments....unless he thinks he's buying them for no other reason than to grow the value and sell them off later. In which case....borrrrring.

[metro]

It's the Hightower and it's not on the same block we are talking about.