With scientists now forecasting that all New York City buildings will have gone residential by 2025, it's time to start thinking about the relative value of places you'll one day be able to call home. Like, say, Rockefeller Center. With the roofdeck about to re-open to the public, The Transom stops by the rooftop with Daily Show's Rob Corddry and somehow gets into conversation with so-called real estate broker Michael Smith:
How much would this space be worth if it were an apartment?
"You mean residential? It's not zoned for that."
It's not? Are you sure about that? Well, let's assume it could be.
"Well, it's a triplex, first off. Landmark building, 360-degree views, great light—I mean, you can't get better light. This is probably, what, 20,000 square feet, plus all the outdoor space? I don’t know … $40 million."Lowball city! Michael Smith, turn in your REBNY membership. We'd say $75 million easy, $100 million if Trump bought it, owned it for three months, and then put it back on the market.
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