New York Is Relying on Office Conversions to Address Its Housing Crisis
By Arfa Momin , Edison Wu, Mihir Zaveri and Hurubie Meko
New York Times
Aug. 30, 2026
"A New York Times analysis shows that the pace of office-to-residential conversions like the former Pfizer building, where two steel columns buckled in July, has quickened sharply.
When a high-rise project became dangerously unstable last month, prompting the shutdown of two Midtown Manhattan blocks, it revealed just how much the city had come to rely on converting old office buildings to deal with its housing shortage.
So far this year, the city has issued permits for 74 such projects that will create roughly 10,100 new homes, according to an analysis of city data by The New York Times. That amounts to a third of all of the new housing permitted in the city during that period, showing how quickly New York is embracing residential conversions..."
https://www.nytimes.com/2026/08/30/nyregion/nyc-conversions-analysis-pfizer.html?eafs_enabled=false
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