2 ms·
> against a $2.5B sell through price Given the state of capitalism I wouldn't put it above and beyond ruthless property developers to consider the initial buil
by rapnie 1y ago
> against a $2.5B sell through price
Given the state of capitalism I wouldn't put it above and beyond ruthless property developers to consider the initial building costs as cheap investments to reserve space on the property map, and help keep condo prices high. And cut corners during the construction to increase ROI.
- potato3732842 1y agoGiven the state of regulation I wouldn't put it beyond anyone with a brain to build now and just accept that the building is a cheap investment to get their floor plan and unit count grandfathered in and while they might have to deal with low vacancy and high ongoing/refit costs it'll pencil out in 5-15yr when every new development is saddled with costs they didn't pay and they'll be able to under-cut the market. (This is the whole reason "old mill into apartments" conversions exist, obviously not in NYC though. You literally couldn't build those footprint buildings on those lots today without non-starter size investments in compliance stuff).