NYC office-to-apartment conversions double, with sites like Candler Building leading the way
New York City is seeing a surge in office-to-apartment conversions, with nearly twice as many planned this year as last. The conversions are helping to ease the city's housing shortage and transform obsolete office buildings into much-needed housing.
New York City is experiencing a significant increase in office-to-apartment conversions. This year, 16,358 conversions are planned, compared to 8,310 last year. The Candler Building is one example, with 176 market-rate and affordable units replacing mostly empty offices. The conversion boom is benefiting the city by creating new housing and sweeping away obsolete offices. City Hall has eased rules and streamlined the approval process, encouraging conversions. The phenomenon is spreading across the city, with many new conversions planned or under construction.
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