One of San Francisco's largest apartment buildings has lost half its value in five years as the Bay Area has struggled with occupancy issues amid a surge in , and effects of the COVID pandemic. NEMA, the 754-unit apartment building that was once valued at $543.6million in 2018, has seen its valued halved toIn August, Crescent Heights, the real estate developer behind NEMA said: 'the property's cash flow can no longer cover the monthly debt service,' as the mortgage cost for the developer is at $384million- higher than the overall value of the building.
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