I love my people. I took the management gig because I was tired of seeing other people do it poorly. I figured I could do it at least little better than they were.
Software developers are much more expensive than the office space they occupy. For the price of a developer, say $100K a year ($8333 per month), you can get rent an entire luxury apartment in NYC. A hundred square feet of space in an office building (the size of a single-person office) is a tiny fraction of that.