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Originally Posted by Cynicism
Which sites are you referring too? The Times Square site at 46th Street is listed at 500 Meters here? "Hudson Spire" 1800'+ ft? Let's not kid ourselves, an office building will never reach those heights.
The market for high-end properties is also cooling down. I can't see another tower of this size going up within the next decade or so.
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It's not the demand side of the equation limiting tall buildings, it's FAR limits. If permissible under zoning, we'd see a lot more 500 meter buildings. The market may be cooling somewhat, but there will still be demand for new housing and office space.
I wish we as skyscraper and urban enthusiasts had a better understanding of real estate finance, the development process and leasing. We may see a new supertall, while a developer sees 1,000,000 sqft of new Class A office space with an absorption period of six months, a positive ROI in all years following construction, and a Cap Rate of 7 percent.