Assume that cost new to build a Class A office space in Times Square currently costs approximately $1,000 per square foot. Following extensive renovation, the subject property has an effective age of 5 years and a total economic life of 60 years. Find the value of the building and improvements if the land value estimate is $100 million.

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answer Extensive Renovation 1 Where existing interior walls or ceiling s or floor assem... View the full answer