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Originally Posted by BXFrank
I remember when I was working there that Bearn and Stern next door went bankrupt, JP Morgan took most employees to this building and they where rebuilding it completely interiorly, they must have spend countless millions back in 2008, now they are tearing it down, so to talk about wastefulness is the least. this is nothing to them.
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Not at all uncommom. Companies spend millions every year to renovate occupied spaces, even for the short term. I remember Time Warner spending a lot to renovate CNN headquarters at TWC, even as 30 Hudson was under construction. Wasteful? Only if you feel that they should have sat still it what was obviously considered substandard by their means.
Quote:
Originally Posted by BXFrank
Ok so those who oppose to tearing down a 1960s box building need to understand is a bigger movement going on, back to the big picture, Park Avenue rezoning is to renovate the area and compete with lower cost of leasing Hudson Yards and others which their buildings are modern, having smart technological amenities, modern company computer system floors, if you ever been in a modern digitalized conference room or office space you’ll know the difference from a 1960s, this is to attract the new modern tenants and or not have them leave. Yes is location by Grand Central a plus but we’re in a new era and companies can’t compete having an outdated building. They know what is waste and investment, they make billions and know how to invest billions better than you and me.
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At least you get it. Chase has the oppurtunity to expand it's headquarters by more than 50%, in the heart of the Heart of New York City, with direct connections to commuter and subway lines. This district is being rebuilt, and reinvigorated. That was the whole point of the rezoning.
Meanwhile, you get people commenting on "wastefulness", yet they will go out and get that new phone, new shoes, new car, or just new "whatever", when what they already have "will do" or get by. But sometimes it's not just about getting by with what you have, when you can get and need better.