I did some fun math yesterday, the Empire State is 102 stories and valued at 1 billion and 2.73 million square feet. Each floor therefore is ~26,000 square fee

I did some fun math yesterday, the Empire State is 102 stories and valued at 1 billion and 2.73 million square feet. Each floor therefore is ~26,000 square feet and ~$9.8M. If you divided each floor into 10 2,600 square foot ultra high end condos, the pre-improvement base cost would be $980,000 per unit. You could then turn around and sell them for probably at least $3-4M. Assuming buildout/sales costs of $1M per unit, you could conceivably clear $1M-2M in profit.