- [1] Bloomberg Article https://archive.is/eTpi5 - [2] NYT Article https://archive.is/fUtnl

Related article from the prior day: https://www.bloomberg.com/news/articles/2023-07-06/why-conve...

The NYT article does a really good job explaining the difference between converting a prewar and a modern building.

Also, TIL about loss factor:

> As offices, these buildings can also rent 100 percent (or even more) of their total square footage, according to the quirky math of commercial real estate.

https://therealdeal.com/magazine/new-york-february-2014/lies...

A well-known UK startup, renting an old building just outside of London, is (or was, as of a few years ago) paying square footage cost for an entire floor that doesn't exist. The previous occupants - a government department - had the floor removed to make for higher, grander internal ceiling heights.

Sounds a bit quirky but makes some sense as a reckoning if 'footage' assumes a standard height.

NYT article - gift link https://www.nytimes.com/interactive/2023/03/11/upshot/office...

(The interactive nature doesn't quite get captured by archive correctly)

Thank you. You are right, that version is a lot better.