New: Elevator Buildings!
As we all know, living in New York is especially expensive. Even in troubled times, space is extraordinarily pricey on the Upper East Side. For example, in August 2011 the average price per square foot on the Upper East Side was $1,358 (*).
Yes, that's per square foot.
It's clear why landowners are trying to scrape up any loose square feet where ever they can. At first, this respected building decided to eliminate elevators, since each one can take up to 100 Square Feet per floor.*
That plan had legal drawbacks, so the building decided to replace the entire lobby with an elevator!
No more stuffed chairs to vacuum, no more marble tile to polish, no more annoying plants to water or bad original art. No more brass! (Well, some brass on the elevator.) No more excessive doormen.
The only staff needed is one single doorman-elevator operator at a time.
Sure those renting relics from before conversion might be put out, but look how much lower the fees will be for the shareholders! No staff, no polish, no arguments, and a new 500 square foot apartment in the former lobby. A quick renovation and that's half a million dollars right there.
Well, it's simply brilliant.
*http://www.trulia.com/real_estate/Upper_East_Side-New_York/5260/market-trends/
Yes, that's per square foot.
It's clear why landowners are trying to scrape up any loose square feet where ever they can. At first, this respected building decided to eliminate elevators, since each one can take up to 100 Square Feet per floor.*
That plan had legal drawbacks, so the building decided to replace the entire lobby with an elevator!
No more stuffed chairs to vacuum, no more marble tile to polish, no more annoying plants to water or bad original art. No more brass! (Well, some brass on the elevator.) No more excessive doormen.
The only staff needed is one single doorman-elevator operator at a time.
Sure those renting relics from before conversion might be put out, but look how much lower the fees will be for the shareholders! No staff, no polish, no arguments, and a new 500 square foot apartment in the former lobby. A quick renovation and that's half a million dollars right there.
Well, it's simply brilliant.
*http://www.trulia.com/real_estate/Upper_East_Side-New_York/5260/market-trends/
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