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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.

https://therealdeal.com/magazine/new-york-february-2014/lies...

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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.

Sounds a bit quirky but makes some sense as a reckoning if 'footage' assumes a standard height.

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