unencumbered assets, page-37

yes but the bigger bour SLG on the NYSE is a better indicator of potential for RNY than this piglet's sp volume
SLG has doubled in price over the last 2 weeks, as I write its up 20% today.
RNY has more potential than SLG as has a lower current PE but other metrics like ICR and LTV almost mirror SLG.
Two things however favouring RNY is its lack of exposure to Manhatten (financial district) and several unencumbered properties that could be mortgaged against if things get sticky in October