This price is adopting $1,800 per square foot of land. I've never heard of such values. To make a hotel and condo work at such numbers they will need to get at least 15 times coverage or about 600,000 sq ft of GFA. That's at least 35 stories at 17,000 sq ft per floor. That would result in a cost of about $120 per sq ft of build able area.
