| Train wreck said: http://www.reuters.com/article/2013/01/18/sony-building-idUSL4N0AN1NL20130118 -20 bidders -sony bought the building in 1992 (even though I think reuters has it wrong, they bought it in 2002 according to wiki) for 236 million, will set a operating income gain of 685 million for the march quarter. -its japanese HQ is up for sale also, Sony is looking for another billion for that property Shares were up 13% |
$236million --> $1.1bn in 10 years? No.
Rule of thumb for property is double value every 10 years, so 2002--> 2012 should only be ~$500 Million with a start value of $236 Million.
But look, 1992-->2012 = 20 years which means you'd expect $236 million to turn into about $1bn give or take a couple hundred million.
If Sony really did get 4x buy price in only 10 years then that's really amazing capital gain. Perhaps things were going for cheap in New York in 2002, being less than a year after 9/11.
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