Why This Building Makes So Much Money

About this video

• Video Title: Why This Building Makes So Much Money
• Channel: Primal Space
• Speakers: [None explicitly named in the transcript]
• Duration: 00:11:57

Overview

This video explains how the Empire State Building, built nearly a century ago, became and remains an incredibly profitable skyscraper. It details the innovative design choices, the challenges of New York City's building regulations, the record-breaking construction process, and how the building adapted to generate revenue even during the Great Depression through its observatories and broadcast antennas.

Key takeaways

• Strategic Design for Profitability: The Empire State Building's design incorporated setbacks to comply with light-blocking regulations while maximizing premium office space on higher floors, leading to greater rental income.
• Overcoming Building Regulations: Designers cleverly utilized a rule allowing structures to extend beyond a certain line if they occupied only 25% of the plot area, enabling the building's tall, straight design.
• Efficient Construction: The building was constructed in a record-breaking time of just over a year by using pre-fabricated steel, hundreds of daily deliveries, a large workforce, and efficient on-site logistics.
• Adaptability During the Great Depression: When office rentals faltered due to the economic crash, the building generated significant revenue through its popular observatories and later by serving as a hub for television and radio broadcasting.
• Prime Location and Value: The decision to build in Midtown, a gamble at the time, paid off as it became a central business district, contributing to the building's overall value and continued profitability from rentals, broadcast antennas, and tourism.