New York: empty offices, a housing shortage, and the math to bridge them.
The biggest office-to-residential opportunity in the country sits here, and so does the biggest way to get it wrong. This is where our flagship study earns its keep.
Two problems, one solution
New York has a large stock of older, underused office space and, at the same time, a severe shortage of homes. Turning the first into the second is the cleanest answer to both, when a building can actually take it.
The incentives finally line up
Recent zoning reform and tax incentives aimed at converting offices to housing have changed the math on deals that did not pencil a few years ago. Policy is now pushing in the same direction as need.
But most buildings should not convert
Floorplate depth, window lines, plumbing risers, and structure decide whether a conversion is a windfall or a disaster. The headline says convert everything; the engineering says otherwise. Telling the two apart is the whole job.
Where we come in
Our flagship study answers the only question that matters before you commit: can this specific building become homes, at what cost, and for what return. A clear convert, hold, or sell, with the numbers exposed.
Sitting on an office building?
Before you spend a dollar on architects, find out whether it converts at all. The flagship conversion study gives you a straight answer and the numbers behind it.