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.
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.
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...