You are 100% correct, but interestingly more and more high rise stock is going residential. These are just a few examples, but check out 520 West 41st street (1

You are 100% correct, but interestingly more and more high rise stock is going residential. These are just a few examples, but check out 520 West 41st street (106 floors of residential) or 45 East 22nd Street (60 floors of residential). That's hundreds and hundreds of apartments going on tiny footprints. The one on 22nd street is replacing a 4 story nondescript building, in almost laughable fashion. The major buildings going up on Park Ave, in Long Island City, and all along the Brooklyn water front are all residential. There seems to be a glut of office space, so for now this is where the market is going. Much of it is luxury unfortunately, but not all of it.