While some are contemplating moving from an apartment to a full house, the prospect of owning a slice of the famed Netflix House might be more alluring. The iconic former Lord & Taylor store, set to be transformed into a Netflix House by 2025, is now up for grabs as the curtains rise on this monumental real estate opportunity.
The 120,000-square-foot edifice, currently under the management of HBC Properties, is a beacon of potential investment. Though the price tag remains undisclosed, a 2011 appraisal values the property at $7.37 million, hinting at a substantial figure that might have appreciated over the years. The property is primed for a 10-year net lease starting December 31, 2024, complete with a “corporate guaranty from Netflix” and incremental rent escalations to sweeten the deal.
Challenges in the Content Strategy
Despite the excitement surrounding the Netflix House, recent murmurings from disgruntled viewers have cast a shadow over the streaming giant. The emergence of what some have dubbed “split-in-half” series, exemplified by the release schedule for shows like Outer Banks season four, has triggered a backlash from loyal fans. The unorthodox release pattern of airing five episodes on October 10 and the rest on November 7 is drawing criticism, with viewers yearning for the traditional all-at-once binge-watching experience.
Perceptions suggest that Netflix’s strategy is shifting towards choppy narrative arcs, deviating from its binge-friendly ethos. As first seasons enjoy the binge privilege, subsequent seasons are increasingly fragmented, leaving viewers to lament the transformation from “traditional Netflix binge” to a disheartening “Netflix butchering.”
Assessing Netflix’s Investment Appeal
Analysts on Wall Street have reached a consensus on NFLX stock, deeming it a Moderate Buy after assigning 24 Buy ratings, 12 Holds, and one Sell over the last three months. The stock’s steady 50.25% rally in the past year points to its growth potential, with the average price target of $709.48 per share indicating a promising 6.29% upside.
