Tommy Dobczyk pushes back on a $60 million valuation for a mobile home park, pointing to its actual layout, beach proximity, and local opposition to nearby development. He argues the land alone can't support that price and jokes that GPT needs an attitude adjustment for the inflated estimate.
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Are you in the deal room? That there's going to be a mobile home park worth $60 million in dirt. So this was a mobile home park, right? And then you can actually see over behind it back there that there's pads right there where they were wanting to build houses back there too. And so this is right across the street from the beach. They absolutely will not want a hotel there because all those people up there on the hotel then get to— or on the hill— get to look down at the hotel. They definitely don't want that. So, but there's no way in hell that there's going to be a mobile home park worth $60 million in dirt. Right. You know what I mean? Like, you would literally need to charge. Let's, let's go, let's go back to GPT and give it a little attitude adjustment.