I would surmise that we very much disagree on this.
I don't believe in preserving anything merely because it's old; or because it is representative of something. We have pictures for that.
We preserve things because they have intrinsic value.
Put another way, money aside, if you wouldn't build it today, there's little or no reason to keep it.
Reasons for retention are both aesthetic and functional. If both are lost, I'm not sure why one would retain something in most cases.
There may be an argument if one is preserving something that affords critically important insight into history w/lessons for the future, say Auschwitz; or perhaps the very first building of a city/province/country/civilization for its extraordinary symbolism. I might even accept the argument of extreme novelty such as a 'pioneer village' that allows people to realize the benefits (and detriments) of a modern technological existence by having a point of comparison.
I fail to see where this building meets any of those attributes. It lacks extraordinary function, it lacks important novelty or historical lessons, it has no great symbolic value and its aesthetics are ho hum at best.
If this can be preserved so can condos by Huang & Danczkay.
We've demolished far more beautiful buildings, far more functional buildings, far more historical buildings and indeed several that were all three.