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Which Song Are You Listening To?


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Mony Mony - Tommy James & The Shondells
(the original.. it's been covered many times since, often by much bigger names like Billy Idol and Tiffany.)


(for anyone interested in music trivia or commercial real estate...)


I clicked on this by way of news that the 1740 Broadway CRE deal had closed.  1740 used to be the Mutual of New York building, with a big "MONY" sign at the top that was allegedly the inspiration for the song's title.

For the financially inclined, the building was most recently sold for $186M.  After fees and expenses only about $117M was left.  (And you thought your closing costs were extreme?Prior to that the previous seller got over $600M for the building in 2014.   The $117M wasn't even enough to pay off the senior bondholders, who took a 26% loss on the deal.  Obviously if the seniors took a haircut all the other bondholders were completely wiped out.  😱  My take?  CRE is in deep trouble!


Edited by efaardvark
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I'm thinking about going to church this Sunday but I'm conflicted about it, for reasons that are basically stated in 1:25 of this song. 

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