Quote:
Originally Posted by giantSwan
why not convert this to residential? there is seemingly no demand for commercial, yet residential demand is booming?
can anyone in the industry help me understand?
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No demand for commercial? Clearly you haven’t been paying attention.The WTC towers are filled. The new office towers are where demand is strongest. This tower needs a tenant of a certain size to get built, and leases of that size are rarer Downtown than in Midtown. It’s zoned for commercial (office/hotel).