Originally Posted by
animatedmartian
That's improper oversimplified math.
Assuming the overall building size is the same [[75,000 square feet), then having 25,000 square feet of retail [[originally was 10,000) means there's 50,000 left over for apartments [[originally was 65,000 for offices). That comes out to about 735 sq ft per apartment.
If the market rent is $2/sq ft, then average rent within this building should roughly be around $1,470 per apartment [[actual rents will vary depending on the actual size of the individual apartments, but the average should be around that number nonetheless). That's on par with other downtown and midtown rents as of right now.