unencumbered assets, page-2

Danhoff, you mentioned you were into this heavily, and watched the property sections regularly.

I am sure you must be feeling pretty down about the current SP, but try not to let it get to you if no new facts have emerged to alter your view.

My question for you is; ignoring the SP, what is your current view of RNY's prospects w.r.t. the NY office market and it's JV partner RXR?

Clearly there is a keen seller letting out all you can eat at 4.5c, and the low price is due to lack of buyers due uncertainty. Hopefully an announcement on refi can allay those fears. I must admit a nervous buy for me.