NEW YORK | 80 South Street | 1,436 FT | 113 FLOORS

[DCReid]

[QUOTE=NYguy;10306776][QUOTE=DCReid;10306320]

You make no sense. You're telling me they are creating all of this new residential space with NO demand? That's just stupid. Everyone knows of the residential demand in New York. That's anywhere and everywhere. That's why there is constant new residential space going up all over the city, not just in Manhattan. And the only thing that hampers that is the zoning. When a tower is built here, there will be demand for it. And I hope I don't have to tell you anything about the demand for hotel space.


I did not say there was NO demand in residential space. I said there was NO demand in office space downtown. If there was, they would either renovate the office space downtown or demolish office buildings to build new swanky office towers like they are doing in midtown with 1 Vandy and JPMC. So, with little office demand downtown, they are turning to residential downtown given the demand for residential throughout the city and some incentives to convert the aging office buildings downtown.

I'm done with this blog - no use speculating on this site until something more concrete comes as far as I am concerned...