In the earliest days of the pandemic, as it became clear that people could do their work remotely and the economy would not collapse, some began to wonder why New York's empty office buildings couldn’t be converted to much-needed housing. More recently, Mayor Eric Adams announced new plans that would lead to meaningful steps in that direction. The city seeks to rezone 23rd to 40th Street from Fifth to Eighth Avenues, which is currently zoned for manufacturing use, to allow the construction of residential apartments.
Additional proposed zoning changes allow office buildings constructed before 1990 to convert to housing (bumping up the current cutoff of 1977 at the latest) and allowing buildings to convert to housing wherever the current zoning regulations allow for it. It is a daunting process because of the many agencies that must get involved, but Mayor Adams also established the Office Conversions Accelerator with representatives of various city departments to facilitate the conversions to residential. The mayor once said of remote work, “You can’t sit around in your pajamas all day,” but even he admits that “the world has changed [and] we have to be willing to change with it.”
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“By enabling office conversions, New York will reinvigorate its business districts and deliver new homes near jobs and transit” – Maria Torres-Springer, Deputy Mayor for Housing, Economic Development, and Workforce
The announcement is the first step in a long process. The public outreach process is set to begin this fall, and the plans must be approved by the City Council in a vote estimated for next year. The New York Times notes that two Councilmembers who represent the area in question support the plan; however, New York State’s multiple dwellings law includes requirements that New York City cannot alter, and this must also be addressed. Furthermore, offices are notoriously difficult to convert because of requirements concerning windows, egress, kitchens, and bathrooms.
Nevertheless, it is not an impossible undertaking. The Financial District is a textbook example of the success of converting offices to residential, and it is now a live-work-play area. Before that, industrial buildings in downtown Manhattan and parts of Brooklyn got converted to loft apartments by intrepid artists who transformed these desolate areas into hot neighborhoods.
Waverly Mews, #PHT
$750,000
Greenwich Village | Cooperative | 1 Bedroom, 1 Bath | 500 ft2
Former hat factory
Waverly Mews, #PHT (Douglas Elliman Real Estate)
Greenwich Place, #PHC
$799,000
Financial District | Condominium | 1 Bedroom, 1 Bath | 631 ft2
Former office building
Greenwich Place, #PHC (Pulse International Realty Inc)
Belltel Lofts, #8D
$1,075,000
Downtown Brooklyn | Condominium | 2 Bedrooms, 1 Bath | 1,099 ft2
Former headquarters of New York Telephone
Belltel Lofts, #8D (Compass)
Forward Building, #4A
$1,245,000 (-3.9%)
Lower East Side | Condominium | 1 Bedroom, 1 Bath | 625 ft2
Former newspaper publishing office
Forward Building, #4A (Brown Harris Stevens Residential Sales LLC)
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One Wall Street, #831
$1,495,000
Financial District | Condominium | 1 Bedroom, 1 Bath | 779 ft2
Former Irving Trust Company headquarters
One Wall Street, #831 (Compass)
The Silk Building, #815
$1,950,000
NoHo | Condominium | 2 Bedrooms, 2 Baths
Former silk garment factory
The Silk Building, #815 (Compass)
Liberty Tower, #PH31A
$2,000,000
Financial District | Cooperative | 4 Bedrooms, 4 Baths
Former office building
Liberty Tower, #PH31A (Serhant LLC)
49 Chambers Street, #12C
$2,195,000
Tribeca | Condominium | 1 Bedroom, 1.5 Baths | 1,290 ft2
Former Emigrant Industrial Savings Bank
49 Chambers Street, #12C (Douglas Elliman Real Estate)
262 Mott Street, #301
$2,495,000
NoLiTa/Little Italy | Condominium | 2 Bedrooms, 2 Baths | 1,358 ft2
Former armory
262 Mott Street, #301 (Douglas Elliman Real Estate)
The Police Building, #6N
$3,700,000
NoLiTa/Little Italy | Cooperative | 1 Bedroom, 1 Bath | 1,770 ft2
Former New York Police Department headquarters
The Police Building, #6N (Douglas Elliman Real Estate)
27 Great Jones Street, #2W
$3,995,000
NoHo | Condominium | 2 Bedrooms, 2 Baths | 2,041 ft2
Former industrial loft building
27 Great Jones Street, #2W (Douglas Elliman Real Estate)
One Hundred Barclay Tribeca, #14G
$4,125,000
Tribeca | Condominium | 3 Bedrooms, 3.5 Baths | 2,369 ft2
Former New York Telephone Company headquarters
One Hundred Barclay Tribeca, #14G (Living New York)
Lion's Head, #PHF
$4,750,000
Chelsea | Condominium | 4 Bedrooms, 3.5 Baths | 2,665 ft2
Former commercial building
Lion's Head, #PHF (Douglas Elliman Real Estate)
144 Franklin Street, #3FL
$5,495,000
Tribeca | Cooperative | 3 Bedrooms, 2 Baths | 3,000 ft2
Former olive oil and feta cheese factory
144 Franklin Street, #3FL (Compass)
554 Broome Street, #PH
$5,995,000
SoHo | Condominium | 3 Bedrooms, 3 Baths | 1,595 ft2
Former Fire Department of New York stable
554 Broome Street, #PH (Douglas Elliman Real Estate)
Artisan Lofts, #10A
$6,999,000
Tribeca | Condominium | 4 Bedrooms, 3.5 Baths | 2,800 ft2
Former commercial building
Artisan Lofts, #10A (Douglas Elliman Real Estate)
443 Greenwich Street, #PHE
$32,500,000
Tribeca | Condominium | 4 Bedrooms, 4.5 Baths | 5,000 ft2
Former book bindery
443 Greenwich Street, #PHE (Compass)
Would you like to tour any of these properties?
Just complete the info below.
Or call us at (212) 755-5544
Would you like to tour any of these properties?