Quote:
Originally Posted by JMKeynes
It's very fortunate for Chicago that the cost of developing buildings is a fraction of what it is in NY because it makes projects like much more viable and easy to build. Due to the obscene costs of land acquisition and labor, towers like this could never have a rental component in NY. In fact, towers like this couldn't even rise in NY as condos priced at less than $5k/sf, and the market for that price range obviously is limited.
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On the other hand, it's "very fortunate" for New York that it has the demand to overcome those costs. Or maybe it's because of the demand that those costs exist in the first place, which makes the comparison moot to begin with.
On that note, it's very fortunate for me that my mom had ovaries because if she had testes I wouldn't have been born.