In what way?  Assume religion is irrelevant.  What potential monetary reasons could someone have for selling at below market value?

4x the price during the 2007 real estate peak before the bubble burst.   Sounds like the wanted to hold out for more money, go greedy, the bubble burst, now its only worth a fraction.



Or, there is something being passed under the table.



Occam's Razor.........which is the simplest explanation?

Oh yeah.  Turning down an $18 million offer for a $4.8 million offer HAS to be money related.

Have you read a newspaper lately?

Are you referring to the house market or a different piece of news?  If the former, please note that I am talking about the actual market value of the property, not the "I paid X so I should get at least X out of it" 'market' value.  According to this thread, there were larger bids for this property, which would mean that the sale was below the market value.  It's possible that the other bids were unable to attain financing, but I was hoping to hear what Sherrick had in mind when he posted.

It is explained, a few posts up.  The balance was paid offshore with no tax man involved.

Money below the table for various reasons. Too avoid taxation the the most likely. But also, to avoid people seeing where it came from, .gov people getting kickbacks for permit approval, certain unions getting the contracts, etc..





The person selling is getting market value in some way for that building. It may not all be in above board money, and may not all be in money period. But people like the Pomerantz family or the fiduciaries running their affairs do not give stuff away unless there is a public relations aspect to it.