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How hard would it be to transform all this commercial real estate into residential real estate?
by mactavish88 4y ago
How hard would it be to transform all this commercial real estate into residential real estate?
- brewdad 4y agoFor modern buildings, it's probably cheaper to tear it down and rebuild. For buildings built before WWII, it sometimes pencils out.
- ghaff 4y agoThere was a recent discussion on HN about this https://www.nytimes.com/interactive/2023/03/11/upshot/office-conversions.html https://www.nytimes.com/interactive/2023/03/11/upshot/office... , but yes. Basically older buildings can work (though the conversions are still expensive and tend to assume luxury apartments) but it's a lot harder with newer skyscrapers.
- electrondood 4y agoI heard someone describe it as a plumbing issue in terms of turds-per-hour. Normally, your CRE is plumbed for 10 TPH. If you convert it into residences, then you're looking at 1000 TPH.