It was only purchased about a year ago and is in really good condition and fits the space really well.

This included some landmark deals including Rockefeller Center’s $3.5B loan and Miami Beach’s Fontainebleau $1.2B refinancingAlternative lenders filling traditional banking gaps with short-term solutions which has already begun a cycle of consolidation that will likely continue and accelerate in 2025The Office Sector Divide:CBD property values are down 50.7% from 2021 peaksClass A office properties seem to be in their own vacuum of prosperity with trophy properties commanding premium rents ($100+ PSF nationally, up to $247 in top markets) with strong occupancyHybrid work continues impacting older building valuations which have not faired as well, but this may begin to rebalance as more companies are instituting mandates to return to physical officesChallenges & Opportunities:$1 trillion in loans maturing by 2026Interest rates up from 3.5% (2021) to 6.74% (2024)Experts such as AEW’s Michael Acton and Blackstone’s Nadeem Meghji see the best entry point in the last 15–20 years and we agreeMarket Outlook:Current market conditions present unique opportunities, with inflation-adjusted prices at historic lows and yields at decade highs.

It’s above average condition in a good location.

There were some changes to the verbiage allowing STRs under certain conditions in the Open Use zoning district which was a big point of contention in previous hearings. 

And just so you know, here are some of the factors an agent will look at to figure that out:Market Conditions: If the market is slower, going all in on staging can make your home look move-in ready and attractive to buyers who may otherwise be hesitant.

They offer invaluable insights into neighborhoods, regulations, tenant demographics, and market conditions—information you can't get from books or podcasts.The good news is that working with an investment team typically comes at no extra cost.

I'm a pretty big advocate for the south side of chicago where you can find properties half that value and cashflow really really well in turnkey condition. 

Also, Dubai offers very good living conditions for expats.

Those numbers are arbitrary unlike taxes and insurance and they vary based on age, condition, area, landscape, PM, and other things.

Depending on the rents and condition of the property, you could find a value or at least a price that would cause it to sell.