We took down faux cedar beams in three 1970's houses and now many new higher end houses have dark stained cedar beams on the ceilings.

@Austin Faux  Yes - I am talking about when the post office returns the mail.

Market rent is 22 a sq ft but they are paying 30 on a vintage lease and rents have fallen since then.

@Cristo Heatherdale @Austin Faux @Norberto VillanuevaFound the forum that states google chrome doesn't like to do mentions, so I hopped on IE to tag you all.

There is usually option periods to renew and define what will happen.Now if the lease is a vintage lease with above market rates compared to current rents per sq ft then the tenant might ask for a reduction or leave all together if a better space is available elsewhere. 

You do not need to put in all new everything, keep the 20's charm or the vintage feel and only replace what genuinely needs replacing. 

The loans that are trading are still legacy loans with vintage (age) of the mid to late 2000's.  

Maybe 2013 or even 2014 vintage but 2016 vintage I think many of these projections are a little optimistic but defendable in today's environment.

Call Cash Faux Bob today. 

From a financing prospective, 2100 a unit on a 60s vintage product is way low.