Should I sell soon? Or wait it out

[Victor Fung]

I have a strategic piece of property that I was in light discussions with a potential buyer long before COVID. Before COVID, I had thought about delaying the disposition maybe 1-2 years out. However, the effect on real estate prices is unknown. In mid summer of 2019, the developer had bought pieces of property around the street for a hefty sum. I am the only piece left and own 25% of the total land that he would have purchased. He recently was approved for development on the other half of the total property. I am not sure how things are now or if the development is going forward. His company has a large portfolio of commercial real estate and malls. They are funded by offshore investors. I did see a job on their website for a CRE acquisitions associate so I guess they want to start buying up more properties.

My situation is that my portfolio was somewhat helped by another business which I can't operate in the forseeable future and most likely going bankrupt. Said property supports itself but other ones may not do so well. 

What do you think the situation is now? Should I open up discussions soon or wait it out?