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Search resuls for: "Lilla Smith"


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About $800 billion may be wiped off the value of offices in major cities this decade, per McKinsey. Converting New York offices into residences is possible but has its challenges, Bloomberg reported. Buildings in the financial district are only eligible if they were built before 1977, while it's 1961 for Midtown structures, Chilelli told Bloomberg. Structural issues must also be considered, Chilelli told Bloomberg. Repurposing a structure can as much as double the price per square foot for a building, Chilelli said.
Persons: Joey Chilelli, Chilelli, Eric Adams —, Maria Torres, Springer, Michael Cohen, Jeff Bezos, Mukesh Ambani, Mukesh Ambani's, Danish Siddiqui, Lilla Smith, Macklowe Organizations: McKinsey, Bloomberg, Service, Vanbarton Group, Williams, Flatiron, Danish, Irving Trust Company, Sixth Locations: New York, Wall, Silicon, Midtown, Manhattan, Mumbai, Lower Manhattan, York
Developer Macklowe Properties converted a Financial District office building into a condominium. The 1.25 million-square-foot tower is the largest office-to-residential conversion in New York City. The New York landmark was completely reconfigured inside, including removing 30 elevators. Developer Macklowe Properties took on the challenge of creating 566 luxury residences while maintaining the original Art Deco aesthetic of the 1.25 million-square-foot building. Once most of the inside was gutted, it made for a clean canvas for Smith to reconstruct office space to residential, she said.
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