4 ms·

Office space rents for more per SQ ft than residential, so landlords have incentive to keep it vacant in the hopes that markets come back.

eagleinparadise 3y ago
I work in CRE - anyone reading this completely disregard this silly comment. it is laughably stupid
- zarathustreal 3y ago
  In other news: internet rando calls other internet rando an idiot! Fails to recognize irony! More at 11pm.
- loco5niner 3y ago
  not exactly a thoughtful and interesting commentary, regardless of correctness.
  - SantalBlush 3y ago
    I'll take correctness over thoughtful or interesting. Maybe I don't fit in here.
    - zarathustreal 3y ago
      Unfortunate but true. This is just another echo chamber
    - loco5niner 3y ago
      Oh, I like correctness too. Are you correct? I don't know; you just said something rude and didn't back up your assertion. As far as fitting in here, have you read the guidelines? https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html >In Comments >Be kind. Don't be snarky. Converse curiously; don't cross-examine. Edit out swipes. >Comments should get more thoughtful and substantive, not less, as a topic gets more divisive. >When disagreeing, please reply to the argument instead of calling names. "That is idiotic; 1 + 1 is 2, not 3" can be shortened to "1 + 1 is 2, not 3."
      - SantalBlush 3y ago
        Yes, I've read them. You should probably calm down and maybe take a break from social media.
        bheadmaster 3y ago
        What exactly made you think the other person isn't calm? Their comment seems calm to me.
        SantalBlush 3y ago
        >you just said something rude and didn't back up your assertion. This is a combative tone and suggests they need to calm down. Moreover, they're violating the very rules that they just posted: >Be kind. Don't be snarky. Converse curiously; don't cross-examine. Edit out swipes.
        bheadmaster 3y ago
        I don't sense any combative tone - the statement was describing the state of things in a truthful manner. I find your tone ("they need to calm down", "take a break from social media") much more condescending and passive-aggressive. Maybe you are projecting your own feelings onto others? Therefore, maybe the advice you're giving to them is actually advice you want to give to yourself? Note that this is merely an observation - I have no way of knowing as I don't have access to your mind, and I don't care either way, so feel free to label my comment as combative, too, if you wish.
        SantalBlush 3y ago
        You might still be upset from our previous exchange in another thread about Hanlon's razor, so you found another comment of mine to try and pile on ("Oh no, that's not true, I just decided to participate in this 4-day-old conversation!") I caught ya. Have a good day!
- Supermancho 3y ago
  under 3$ sq ft for residential in LA (talking about apartments) https://www.apartments.com/blog/what-is-the-average-rent-in-los-angeles-ca https://www.apartments.com/blog/what-is-the-average-rent-in-... around 4$ sq ft for commerical in LA https://www.colliers.com/en/research/los-angeles/2022-q2-downtown-los-angeles-office-research-report https://www.colliers.com/en/research/los-angeles/2022-q2-dow... CRE is WAY higher in the top tier areas of SF, for the obvious reason that historically high startup capital outpaces all other residential price pressures. This differs in other localities.
- thinkcontext 3y ago
  > Couple that with the fact that office rents are higher per square foot than residential rents are, and you see why developers aren’t champing at the bit to get new projects underway. Van Nieuwerburgh gave me an example from San Francisco, where Juul’s old headquarters—down the block from Twitter’s improvised dormitory—is for sale for $150 million. That’s a lot less than the $397 million the embattled nicotine vape company paid for it in 2019. But at $400 a square foot to buy and another $400 a square foot to renovate, he said, the conversion would still produce a building with rents too high even for San Francisco. In other words, offices may be down, but they’ll have to fall a lot further before adaptive reuse becomes a bargain. https://slate.com/business/2022/12/office-housing-conversion-downtown-twitter-beds.html https://slate.com/business/2022/12/office-housing-conversion...

eagleinparadise 3y ago

I work in CRE - anyone reading this completely disregard this silly comment. it is laughably stupid

zarathustreal 3y ago
In other news: internet rando calls other internet rando an idiot! Fails to recognize irony! More at 11pm.
loco5niner 3y ago
not exactly a thoughtful and interesting commentary, regardless of correctness.
- SantalBlush 3y ago
  I'll take correctness over thoughtful or interesting. Maybe I don't fit in here.
  - zarathustreal 3y ago
    Unfortunate but true. This is just another echo chamber
  - loco5niner 3y ago
    Oh, I like correctness too. Are you correct? I don't know; you just said something rude and didn't back up your assertion. As far as fitting in here, have you read the guidelines? https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html >In Comments >Be kind. Don't be snarky. Converse curiously; don't cross-examine. Edit out swipes. >Comments should get more thoughtful and substantive, not less, as a topic gets more divisive. >When disagreeing, please reply to the argument instead of calling names. "That is idiotic; 1 + 1 is 2, not 3" can be shortened to "1 + 1 is 2, not 3."
    - SantalBlush 3y ago
      Yes, I've read them. You should probably calm down and maybe take a break from social media.
      - bheadmaster 3y ago
        What exactly made you think the other person isn't calm? Their comment seems calm to me.
        SantalBlush 3y ago
        >you just said something rude and didn't back up your assertion. This is a combative tone and suggests they need to calm down. Moreover, they're violating the very rules that they just posted: >Be kind. Don't be snarky. Converse curiously; don't cross-examine. Edit out swipes.
        bheadmaster 3y ago
        I don't sense any combative tone - the statement was describing the state of things in a truthful manner. I find your tone ("they need to calm down", "take a break from social media") much more condescending and passive-aggressive. Maybe you are projecting your own feelings onto others? Therefore, maybe the advice you're giving to them is actually advice you want to give to yourself? Note that this is merely an observation - I have no way of knowing as I don't have access to your mind, and I don't care either way, so feel free to label my comment as combative, too, if you wish.
        SantalBlush 3y ago
        You might still be upset from our previous exchange in another thread about Hanlon's razor, so you found another comment of mine to try and pile on ("Oh no, that's not true, I just decided to participate in this 4-day-old conversation!") I caught ya. Have a good day!
Supermancho 3y ago
under 3$ sq ft for residential in LA (talking about apartments) https://www.apartments.com/blog/what-is-the-average-rent-in-los-angeles-ca https://www.apartments.com/blog/what-is-the-average-rent-in-... around 4$ sq ft for commerical in LA https://www.colliers.com/en/research/los-angeles/2022-q2-downtown-los-angeles-office-research-report https://www.colliers.com/en/research/los-angeles/2022-q2-dow... CRE is WAY higher in the top tier areas of SF, for the obvious reason that historically high startup capital outpaces all other residential price pressures. This differs in other localities.
thinkcontext 3y ago
> Couple that with the fact that office rents are higher per square foot than residential rents are, and you see why developers aren’t champing at the bit to get new projects underway. Van Nieuwerburgh gave me an example from San Francisco, where Juul’s old headquarters—down the block from Twitter’s improvised dormitory—is for sale for $150 million. That’s a lot less than the $397 million the embattled nicotine vape company paid for it in 2019. But at $400 a square foot to buy and another $400 a square foot to renovate, he said, the conversion would still produce a building with rents too high even for San Francisco. In other words, offices may be down, but they’ll have to fall a lot further before adaptive reuse becomes a bargain. https://slate.com/business/2022/12/office-housing-conversion-downtown-twitter-beds.html https://slate.com/business/2022/12/office-housing-conversion...