A space is listed as being in unrenovated condition when it is within a structure more than 5 years old, and when the space has not been significantly renovated within the past 5 years. This means that no significant improvements or upgrades have been made to its visible space or to its hidden mechanical systems, or that those changes do not bring it in line with market expectations for space of that usage type.

Both the age of the containing structure and the recent renovation history matter. Work that does not bring the space into line with market expectations does not satisfy the stated renewal condition.

Renovated condition requires qualifying improvements within the past five years. Unrenovated condition does not by itself describe the structural damage required for ruins.