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By some estimates, only 3% of New York City office buildings and 2% in downtown Denver are suited for residential conversions. Office space and homes are two fundamentally different types of ...
The price of converting an office to an apartment runs at about $100 to $200 per square foot, according to a 2022 analysis from Moody’s Analytics, which noted that the cost is most likely higher ...
Office-to-residential conversions can be costly and take longer than new construction. Skip to main content. Sign in. Mail. 24/7 Help. For premium support please call: 800-290-4726 more ways to ...
Between 2016 and 2021, only about 30 office-to-residential projects came online each year, according to a July 2023 Deloitte study. And as of the time of the study, there were only 217 such ...
Despite return-to-office mandates, occupancy still suffers from a high vacancy rate of 13.3%. Why residential conversions can’t save commercial real estate Skip to main content
The building was completed in 1969 and operated as an office building from 1969 to 2022. As of 2023 it is being redeveloped into a residential building that is planned to have over 1,300 apartments, which would make it the largest office-to-residential property conversion in the United States.
In California, the state's 2023 budget allocates $400 million in incentive grants for office-to-residential conversions, while in Denver, city council considers converting some downtown office ...
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