Unfortunately, the commercial real estate contracts aren’t 1:1 with residential use. Commercial rent per sf in Manhattan is around $90 (https://www.statista.co

Unfortunately, the commercial real estate contracts aren’t 1:1 with residential use. Commercial rent per sf in Manhattan is around $90 (https://www.statista.com/statistics/605986/average-class-a-asking-rent-manhattan-by-submarket/ https://www.statista.com/statistics/605986/average-class-a-a...) It appears that residential rates are closer to $5 per sf (https://www.google.com/amp/s/www.zumper.com/blog/nyc-by-square-foot-see-which-neighborhood-gets-you-the-most-space-for-your-money/amp/ https://www.google.com/amp/s/www.zumper.com/blog/nyc-by-squa...) If you believe these numbers, then lenders are going to take a huge haircut if this happens-so there will likely be a lot of kicking and screaming.