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The big commercial office building collapse will 100% take place and will have a ripple effect on the rest of the economy. People have no idea of the incoming ugly financial storm that is brewing in America. People are distracted with lesser things.
The big commercial office building collapse will 100% take place and will have a ripple effect on the rest of the economy. People have no idea of the incoming ugly financial storm that is brewing in America. People are distracted with lesser things.
We're always on the verge of one crisis or another. What would you suggest people do?
Adams is ridiculous. Office buildings are not made for housing, there's no plumbing, windows, stairwells, elevators, etc ... where you need them to be for residential. The cost of a conversion is too expensive to create affordable housing.
Says you!
Tons of office buildings in lower Manhattan including but not limited to 40 Wall street have been converted into residential. It's not an absolute impossibility, but also neither is it certain nor cheap and easy.
Out of gate first issue is floor plates; that is how building was designed and built.
Office buildings don't have to meet same zoning and other requirements of multi-family. Things such as mandates about bedrooms having windows, ventilation, etc....
Then there are HVAC, plumbing and other issues, all laid out for an office building which obviously are different than apartments.
People have been turning manufacturing buildings into housing for decades as well. All those loft conversion buildings from about mid-town west down through Chelsea onto SoHo and Tribeca.
Where it can be done what things come down to is price. As Adams was told when he recently toured another FiDi office building being converted to residential, it usually ain't cheap. If city wants "affordable" much less "low income" housing in such conversions it and or state will need to ante up.
Why cant the sate pay a LOT less and move these folk to Arizona or Nevada where there is a lot more cheaper space.
Why do these broke people must live in Manhattan or anywhere in NYC??
Why cant the sate pay a LOT less and move these folk to Arizona or Nevada where there is a lot more cheaper space.
Why do these broke people must live in Manhattan or anywhere in NYC??
Because few other state or local areas are same soft touch as NYS/NYC.
Tons of office buildings in lower Manhattan including but not limited to 40 Wall street have been converted into residential. It's not an absolute impossibility, but also neither is it certain nor cheap and easy.
Out of gate first issue is floor plates; that is how building was designed and built.
Office buildings don't have to meet same zoning and other requirements of multi-family. Things such as mandates about bedrooms having windows, ventilation, etc....
Then there are HVAC, plumbing and other issues, all laid out for an office building which obviously are different than apartments.
People have been turning manufacturing buildings into housing for decades as well. All those loft conversion buildings from about mid-town west down through Chelsea onto SoHo and Tribeca.
Where it can be done what things come down to is price. As Adams was told when he recently toured another FiDi office building being converted to residential, it usually ain't cheap. If city wants "affordable" much less "low income" housing in such conversions it and or state will need to ante up.
They will have to relax the rules
Clearly its difficult to convert from commercial to residential and keep in compliance
IMO only reason why the older buildings are easier to convert is because they're not mostly windows like the newer places (I can't recall an all new commercial brick hi-rise building anywhere in NYC)
It will be like how the Loft Board was to SoHo, this new Board will regulate the conversions
Truth be told I have a feeling that it will lead to a huge population housing shift (outer boroughs going to Manhattan)
Many will find these "newer" apartments to seem more durable. The floors of commercial buildings have a higher occupant load than most residential buildings, so the floors can support more psi than a residential building. Might even be a little quieter, heh.
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"The man who sleeps on the floor, can never fall out of bed." -Martin Lawrence
NYC doesn't have much time left. Many REIT and property owners that are burning through covid money will be out of time. It isn't about returning to work, it's that many companies are downsizing and moving out of NYC as well. When one state like Florida has gained over 900k residents in one year and all of the coastal states like CA, NYC continues to lose well to do residents. It's a matter of time the speed cameras will need to be installed in every corner to make up for the loss taxes. Soon, they will have to invent a J-walking camera and start using facial recognition to ticket J-walkers when the congestion tax goes in effect and hardly any people would drive into work.
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