Confirmed with Link: Senators are for sale - and it’s a Gong Show

[DaveMatthew]

I remember when I put an offer in on a million-dollar house despite only having $50k in the bank and a $450k mortgage pre-approval. After telling my realtor to send it in, I sent frantic emails to aunts and uncles with the subject line "This is somewhat of an urgent matter". Meanwhile, I told my wife she should go pick up new wooden shutters for the beautiful windows because we'd be moving in soon.

She's since left me and I have Christmas dinner alone.

 

[Joeyjoejoe]

I remember when I put an offer in on a million-dollar house despite only having $50k in the bank and a $450k mortgage pre-approval. After telling my realtor to send it in, I sent frantic emails to aunts and uncles with the subject line "This is somewhat of an urgent matter". Meanwhile, I told my wife she should go pick up new wooden shutters for the beautiful windows because we'd be moving in soon.

She's since left me and I have Christmas dinner alone.

How come Nick Kypreos didn't come in and offer to buy the mortgage for you?

 

[IpsoPostFacto]

How come Nick Kypreos didn't come in and offer to buy the mortgage for you?

he took his wife off his hands.

 

[Mingus Dew]

Flatiron Building auction winner fails to pay $19M deposit

The building’s buyer, Jacob Garlick, won the Fifth Avenue landmark last week — but is already behind on payment.

nypost.com

The Post is a rag but some funny parallels here.

 

[BondraTime]

It’s beyond bizarre that this hack job approach has gotten past the sniff test.

How can you be the lead on a billion dollar acquisition and nobody has even heard of you or know what you do?

And even doing vast amounts of research to find out who that person is, leaves more questions that you had before.

I’ve found like 10 go fund me campaigns, none of which seem like anything that would be smart or profitable.

He’s won already, and he’s gotten what he wanted, and that’s recognition as a mover and shaker.

Jesus, he’s being referred to as an entertainment mogul. The guys making shitty direct to video flicks like he’s got Steven Segal on retainer.

 

[DaveMatthew]

Flatiron Building auction winner fails to pay $19M deposit

The building’s buyer, Jacob Garlick, won the Fifth Avenue landmark last week — but is already behind on payment.

nypost.com

The Post is a rag but some funny parallels here.

Gural immediately smelled something fishy about the real-estate newcomer, as moments after winning the Flatiron on the New York County Courthouse’s steps, Garlick asked him if he wanted to partner up on the deal.

Later, Garlick offered Gural a 10% stake in the building — which is currently vacant — in exchange for putting up his $19 million deposit.

“It was such a ridiculous proposal,” said Gural. “It concerned me. It was a red flag that he didn’t have the money.”

Sounds familiar... make a bid then find partners to pay for it...

Here's the thing—I understand where Garlick is coming from. In fact, the further we dive into this story, the more the 31-year-old man rises in my esteem. He's just like the rest of us: making promises he can't quite deliver, networking in a situation where it's not really appropriate, having a weird relationship with one of his cousins…because, oh yeah, one of the Flatiron Building's other former co-owners, Nathan Silverstein, confirmed to the Real Deal that Garlick is his "distant relative."

He's basically doing exactly what I would do if I accidentally bought the Flatiron Building—scrambling to save face while being clearly and totally f***ed. It's awesome.

Jacob Garlick Won't Give Up on the Flatiron Building - Hell Gate

Jacob, please talk to us.

hellgatenyc.com

Fun story!

 

[Mingus Dew]

Sounds familiar... make a bid then find partners to pay for it...

Jacob Garlick Won't Give Up on the Flatiron Building - Hell Gate

Jacob, please talk to us.

hellgatenyc.com

Fun story!

The NYC real estate world is so f***ing bonkers but this is crazy even for that market lol. I miss it.

 

[MMC]

All this sale is missing is one of the potential owners to drop a legendary quote like this one

 

[DaveMatthew]

All this sale is missing is one of the potential owners to drop a legendary quote like this one

Davis claimed in the lawsuit that he sought to bid $7 billion for the Commanders — nearly a billion more than Harris. Davis said in interviews that he had access to up to $100 billion in funding.

There are other insiders who don’t feel Davis’ bid is real. “It must be a typo,” one source quipped to FOS. “They probably meant $7,000.”

Meanwhile, there’s no legitimate estimate for Davis’ net worth, and Davis has not announced any partners.

Davis reaped $50 billion — which would put him among the top 20 wealthiest Americans — from selling intellectual property, WUSA reported. Davis’ creation of a smart-city concept that generates power through solar panels and sells excess energy back to power companies, a source close to Davis said.

But FOS could not find any completed projects by Davis that used his smart city concept.

Davis and Duke teammate Christian Laettner had defaulted on nearly $30 million of loans and multiple lawsuits after the 2008 housing market crash. Other companies completed that project in North Carolina.

In 2016, a report stated that Davis was set to purchase a 10.43-acre waterfront property in Atlantic City, where he lived until age 12. Atlantic City’s city council approved that $5.3 million purchase, but Pro Football Network reported that there appears to be no development on that land.

Questions Mount in Brian Davis’ Lawsuit Over Commanders Sale

A federal judge seeks more information before Brian Davis' lawsuit against the firm handling the sale of the Commanders moves forward.

frontofficesports.com

It's funny how some people are shocked at the suggestion that someone might not be what they claim to be. Fraudsters are all over the place.

 

[IpsoPostFacto]

Flatiron Building auction winner fails to pay $19M deposit

The building’s buyer, Jacob Garlick, won the Fifth Avenue landmark last week — but is already behind on payment.

nypost.com

The Post is a rag but some funny parallels here.

yep. Everyone assures us that big important people like the NHL and huge international investment companies are super smart, but in reality, crap happens.

 

[RyCam]

I still firmly believe that the only reason that the Neko Sparks bid is alive is to drive up the price(ie. Mendes' third point), because this guy will just keep on throwing a higher number at GSP and the Melnyks everytime he's outbid(whether he has the money or not).

There will come a point where GSP and/or the Melnyk sisters will say enough is enough, but my worry is that they will push it to the point where the other three bids will pull out because either the price tag is too high or they don't have any interest in continuing to be a part of this clown show.

 

[Emerica]

Questions Mount in Brian Davis’ Lawsuit Over Commanders Sale

A federal judge seeks more information before Brian Davis' lawsuit against the firm handling the sale of the Commanders moves forward.

frontofficesports.com

It's funny how some people are shocked at the suggestion that someone might not be what they claim to be. Fraudsters are all over the place.

 

[Mingus Dew]

yep. Everyone assures us that big important people like the NHL and huge international investment companies are super smart, but in reality, crap happens.

Yes and no. The Flatiron thing was like an old school auction where folks are not able to diligence bids in real time. The deposit is supposed to be the barrier to entry.

We had months of diligence here with groups identified way in advance. It's just hilarious that the sell side is still doing diligence at this point and asking bidders to justify their numbers after hard deposits were sent in.

 

[DaveMatthew]

Legal documents claim Brian Davis has no money. But a source from his group says they're alive, well and confident in the process. Here's why we shouldn't count them out - by Ian Mendes

 

[Masked]

I think so. Or the only one crazy enough to spent a billion dollars just for the rights to a medium sized market NHL team.

I still don't see how any team in this league - outside the O6 group - is worth a billion. It doesn't make any sense.

It's pretty simple.

The league just generated $6.1B in HRR last season. Divided by 32 teams that's 190M per team. If half goes to the players, that's $95M per team in potential profits (yes the team has more expenses than just players but they also have revenues that aren't included in HRR). That number is a rate of return of almost 10% on $1B and doesn't even include the franchise appreciation that has been going on since the birth of the league.

Even if you half the number, it's still a decent RoR on the investment.

Assen na yo!

 

[IpsoPostFacto]

can someone remind me about one of the early bids. It had two people involved and at some point they mutually agreed that they had slightly different goals and so did a friendly split and continued with their own bids.

Wait, I just discovered the Google search engine. It was Andlauer with Tullio.

I was wondering because I figure Andlauer wouldn't want to partner up and not be 'the guy', but perhaps, depending on the issue with Tullio, he might indeed be willing to partner up with the Kimel group.

side note: I read the article indicating that the bum is falling out of e-Sports. Kimels may want to drop that dog.

 

[Senator Stanley]

Legal documents claim Brian Davis has no money. But a source from his group says they're alive, well and confident in the process. Here's why we shouldn't count them out - by Ian Mendes

I do have some sympathy for Mendes. Some people have taken legitimate (as far as I'm concerned) criticisms of the depth and quality of his reporting on Sparks and instead started to question his integrity as a journalist. Unfortunately, what happens is that all the attention goes to rebutting the most extreme accusations (e.g. "he's literally working for the bid!"), and distract from what are I think fair critiques.

 

[BonHoonLayneCornell]

I do have some sympathy for Mendes. Some people have taken legitimate (as far as I'm concerned) criticisms of the depth and quality of his reporting on Sparks and instead started to question his integrity as a journalist. Unfortunately, what happens is that all the attention goes to rebutting the most extreme accusations (e.g. "he's working for the bid!"), and distract from what are I think fair critiques.

He's still the guy with the the biggest sports story in Ottawa with the Melnyk tyranny exposure.

 

[Senator Stanley]

He's still the guy with the the biggest sports story in Ottawa with the Melnyk tyranny exposure.

For sure. And he's done serious work on the Hockey Canada file, too. Which is why it's sometimes hard to know what standard to hold him to. Is he a serious reporter (for lack of a better term), in which case how was he not engaging with any of the questions around Sparks, or is he a hockey guy in a market that's come to expect very little "journalism" from its Sens reporters.

 

[BonHoonLayneCornell]

For sure. And he's done serious work on the Hockey Canada file, too. Which is why it's sometimes hard to know what standard to hold him to. Is he a serious reporter (for lack of a better term), in which case how was he not engaging with any of the questions around Sparks, or is he a hockey guy in a market that's come to expect very little "journalism" from its Sens reporters.

Definitely. I think it's more than fair to have some questions, but are we really writing the guy off after one instance of people thinking he's potentially carrying water for one of the groups?

 

[Senator Stanley]

Definitely. I think it's more than fair to have some questions, but are we really writing the guy off after one instance of people thinking he's potentially carrying water for one of the groups?

I'm not. I don't question his integrity. I do think we're seeing some of his limitations (which is not a shot - everyone has some), and the challenges of being a writer who cycles between serious stories, human interest pieces, and day-to-day beat reporting.

 

[BonHoonLayneCornell]

I'm not. I don't question his integrity. I do think we're seeing some of his limitations, and the challenges of being a writer who cycles between serious stories, human interest pieces, and day-to-day beat reporting.

Agreed. I think this is a particularly difficult story to cover as well. They only know what is given to them and there are different stories coming in from lots of them.

 

[Tnuoc Alucard]

Flatiron Building auction winner fails to pay $19M deposit

The building’s buyer, Jacob Garlick, won the Fifth Avenue landmark last week — but is already behind on payment.

nypost.com

The Post is a rag but some funny parallels here.

The New York Post is America’s oldest News Paper and was founded by Alexander Hamilton. The first issue was published on Nov. 16, 1801.

The New York Post is more often proven correct on number of contentious issues, when compared to their competitors, who end up writing retractions when the NYP was right from the get go.

 

[Mingus Dew]

The New York Post is America’s oldest News Paper and was founded by Alexander Hamilton. The first issue was published on Nov. 16, 1801.

The New York Post is more often proven correct on number of contentious issues, when compared to their competitors, who end up writing retractions when the NYP was right from the get go.

Simmer down Rupert.

 

[Joeyjoejoe]

The New York Post is America’s oldest News Paper and was founded by Alexander Hamilton. The first issue was published on Nov. 16, 1801.

The New York Post is more often proven correct on number of contentious issues, when compared to their competitors, who end up writing retractions when the NYP was right from the get go.

looool of course your a Post fan.