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DifficultyNext7666 t1_ja8alh9 wrote

Reply to comment by TheAJx in Midtown Owners Hedge on Costly Office-to-Home Conversions by psychothumbs

Why would there be affordability when it'd so expensive to reno this units?

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TheAJx t1_ja8ecno wrote

Renovating the units is at least in part expensive due to zoning regulations, per the article. We should look for opportunities to remove these obstacles where they make sense. This reduces the cost of reno.

Bringing more apartments into the supply has a rent reducing effect.

Financial district was significantly cheaper than most of Manhattan up until a few years ago, despite the expense of renovating apartments down there.

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