NEW YORK | Residential Conversions
With the high rate of office vacancy in New York, particularly in the post-covid days, many older office buildings have outlived their usefulness as office headquarters. The solution - many are converting into residential buildings.
This will benefit the city by creating more homes in existing buildings, many of which would have been demolished otherwise, and by bringing the office vacancy rate down once these buildings are taken off the market.
Perhaps the biggest benefit would be creating more 24/7 areas of Manhattan to blocks where that may not be the case currently.
To help keep track of some of the largest conversions, I'll try to keep a list here, that can be updated, as well as provide construction updates on the conversions.
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-229 E. 42nd Street (Mt).............927 units
-219 E. 42nd Street (Mt).............536
-111 Wall Street (Dt)........1,350 units
-25 Water Street (Dt).........1,300 units
-55 Broad Street (Dt)..........571 units
-160 Water Street (Dt)........588 units
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NEW YORK is Back!
“Office buildings are our factories – whether for tech, creative or traditional industries we must continue to grow our modern factories to create new jobs,” said United States Senator Chuck Schumer.
Last edited by NYguy; Yesterday at 6:09 PM.
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