newestindustry

newestindustry t1_j68wxh0 wrote

>When 70 Pine was built in 1932, it was the third tallest building in the world and served as the headquarters for the Cities Services Company in New York City. Today, the landmarked Art Deco building has been reborn as a modern residential building.

Might wanna Google stuff before you show your ass like this.

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newestindustry t1_j64uhxv wrote

When you say "giant Midtown office", I feel like you are immediately thinking of the absolute hardest building to convert, but the plan is to make it easier to convert older smaller office buildings to residential. The stretch of Midtown that's specifically referenced in the article is full of tons of such buildings. This exact type of building has been converted to residential elsewhere in Manhattan.

As for the financial incentives—they aren't laws of nature, they're based on a status quo that everyone in the world knows doesn't exist anymore. They'll change and you'll make your killing. Get that paper!

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newestindustry t1_j617n4v wrote

>There's a bunch of reasons why office landlords won't want their offices converted to residential.

All of these hinge on the offices being converted into dorms, which I have never seen anyone but you suggest will happen.

>As I mentioned in another comment, trying to compel office landlords to convert will be an expensive and time consuming process.

I think letting your office space sit empty while you look for nonexistent tenants is also an expensive and time consuming process.

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newestindustry t1_j614ly9 wrote

>If office building owners don't want their property used for residential, what will the City do? Seize the property? That will mire the City in years of costly litigation, and by the time it's settled, new housing buildings could be halfway done.

If the office buildings are empty, as they are now, why wouldn't the entities who own them want to allow for conversions to residential? Do you think they're going to wait around forever for office tenants who aren't coming?

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