Posted on 04/07/2021 8:28:30 AM PDT by DUMBGRUNT
Gov. Andrew Cuomo’s bid to erect 10 new skyscrapers around Penn Station — including one with the eyebrow-raising name of “PENN 15” — may have shriveled under the state budget deal reached by the governor and legislative leaders on Tuesday.
“With a vacancy rate at over 17 percent in Midtown we need to think about creating jobs, not employee office space,” he said.
(Excerpt) Read more at nypost.com ...
Commercial office space would not be an investment I’d be looking at right now. If COVID has taught us anything, working from home is very doable.
Killer belongs in the State Pen for 15.
In a world where elevators can only carry two people, how do you justify skyscrapers? Helicopter landings on each floor?
A fiend of mine works in commercial real estate investment. It’s being turned on its ear in ways many people don’t even grasp. Building ANYTHING in an urban area right now is ridiculously risky.
Well, except maybe a fire extinguisher store.
In NYC it’s worse than that. An office building can be converted to a luxury residential property, but New York (City and State) is so dysfunctional and mismanaged that NYC developers are bailing on those projects, too.
There are four people allowed in my NYC skyscraper on Lex Ave. Sometimes we’ll crowd in five because we are rebels.
Maybe it was in the pool.
Where's the Seinfeld "SHRINKAGE!" meme?
“PENN 15”
“goes flaccid”
“erect 10 new skyscrapers”
“shriveled”
Double entendres possibly at play here? Nah...
—”In a world where elevators can only carry two people,”
The higher the building the larger loss of rentable space to services, like the elevators.
Plue the elevator cars are costly.
They are not intending to give the building away for free.
Life in the big city.
Not all urban areas are overbuilt yet
Nashville downtown office vacancy is 7.5%
And that’s with record space coming online as Nashville and Austin lead the nation in tower cranes
Manhattan has been damaged by Covid and political policy no question
Nashville is fairly open but since it’s a leftist town they still mostly wear masks
—”An office building can be converted to a luxury residential property”
Do they do that with an older high-rise?
The cost to rework the plumbing and electrical, would be astronomical? Fire protection?
But they save the curtain wall because it is something special?
Cum-O pulling fresh cash outta his back hole. West China continues its spin...
Cum-O pulling fresh cash outta his back hole. West China continues its spin...
That two person rule won’t last forever
I’ve never had skyscraper elevators built for me but I have had 3-4 story ones....where in fact it is a big chunk of the budget say in a metal self storage multi story facility
It depends on how fast and fancy
Freight elevators....you could build one for 60,000 for four floors easy in 2000s
Otis ....the captains of elevators in the USA
Now those super speed express luxury models in fancy buildings are expensive I’m sure
You’d be surprised in the fancy areas of Nashville or fancy beach houses how many have little elevators
Amazing
They are not intending to give the building away for free.
The thinly-veiled references to the male member, including in the title, are unnecessary and gratuitous and border on pornographic. The thread should be until the author emerges from adolescence.
Yeah, there are exceptions. My daughter’s company moved all their operations from Studio City, CA to nashville a couple of years ago.
Then again, Humana and my company occupy most of the space in downtown Louisville, but those buildings have been virtually empty for a year - yet they are still “occupied”.
My son-in-law owns his own company and employs just under 40 developers (programmers). It’s in Seattle. He’s made two changes with WFH:
1. He let his building lease expire at the end of last year
2. He’s hired his last Seattle employee. They are overpriced and location no longer matters. He’ll be hiring from tier 2 and 3 markets from now on.
I’m sure he’s not alone.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.