olli_bombastico

olli_bombastico t1_jacmh22 wrote

Reply to comment by -Tony in Consultants Gone Wild by ToffeeFever

Yeah, I am one of those consultants and work with MBTA, OGS, and NYCSCA often. They basically outsource the work they don't have people to do in-house. We are called "consultants" just because we are a third party in most cases.

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olli_bombastico t1_j0q6bha wrote

>The early response has been positive, if modest. Even if prices haven’t skyrocketed, the time Manhattan’s luxury co-ops are staying on the market has plummeted, dropping 49% in the second quarter from the same period a year before, according to an Elliman report.

Comparing the prices to those a year ago is a myopic approach to assessing the impact of introducing financing options. The home purchasing sentiment index is down 18% compared to a year ago across the entire country.

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olli_bombastico t1_izfoxcc wrote

>Some obsolete office buildings may be converted to residential, which, in theory, would help to ease New York City’s chronic shortage of housing. But that is easier said than done, say many experts. It would require zoning changes. Even then, many office buildings may not be suitable candidates for residential conversions — either because their floor plates are too large, their elevators are wrongly situated, their windows do not open or their neighbourhoods are unappealing. To make such projects worthwhile, owners would have to sell at deep discounts.

They're not saying it's not a suitable alternative. They suggest there are many factors that owners need to consider before moving on with the projects. Why would they convert to residential buildings if there are no prospective tenants that can cover for their investment?

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