Quote:
Originally Posted by caltrane74
Whether they like it or not a very tall building(s) will be happening on the site.
You don't need an MBA to figure out the most effective use of real estate when the going price is 1000 dollars a square foot.
Btw: the poser's sipping cafe au lait at Zaza will be far enough from this beast. Eastside of Cumberland and Yorkville are set to be redeveloped anyway so any protest is mute.
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The cost of construction is high as well not to mention losing control of the property by sticking residential condos on top of a profitable department store. With that said, I think the ownership will still take advantage of the real estate to offset the costs of expanding the store but it won't be anywhere near 300 metres. I envision a mid rise retail podium with higher than average commercial floor heights and maybe 35 to 40 storeys with higher than average residential floors.
=3.3*35= 132 metres
=4.5*8 = 36 metres
=+15 metres
I'd estimate 175 to 210 metres
What you continue to fail to realize with your silly little Manhattan comparison is that the rich want intimacy and control. They certainly do not want to live in a mega structure with hundreds of units. The prestigious properties in Manhattan are the pre-war co-ops that average 10 to 20 storeys with full floor units.