Clocktower lofts are also very unlike currently vacant offices. Old industrial buildings had large open spaces that turned out to be easy to reconfigure. Most empty buildings now are more like 100 Van Ness which stayed empty for many years until its value dropped to a fraction of what it had been. And that conversion was still expensive enough to be risky and force offerings to the high end to make the math work out. This is going to be a rough ride.