Merchants’ National Properties, Inc. (OTCPK:MNPP) is an inactively traded over-the-counter stock which primarily owns fractional interests in a variety of properties with a focus on New York City. The last article on Seeking Alpha relating to this company was by Thomas Niel on September 6, 2017. This was an in depth analysis of the firm’s assets and far superior to anything I am capable of doing. Thomas calculated the net equity value per share at or around $3,196. I have to suspect that now it is lower but also that it substantially exceeds its present market price of $1,200. The balance sheet as of December 31, 2019, shows a book value of $2,055 and many of these properties have been held a very long time.
MNPP is basically operated by Marx Realty & Improvement, Inc. which it acquired in 2006. For that matter, it is the Marx Realty