Dan from Lotus Eaters raised this point as not as easy at it sounds.

Turning a commercial building into residential apartments is basically impossible as it requires a total internal fit out. It will probably be cheaper to demolish and rebuild if you wanted too.

Edit: Someone did a basic calculation of the numbers and it's not great: https://cre.moodysanalytics.com/insights/cre-trends/office-to-apartment-conversions/

Maybe if the price of commercial real estate crashed, but if that happened the overall economy would most likely be affected so who knows what the costs would be. Spoiler, they reckon about 3% of NY's commercial office space would be good candidates for conversion.

Dan from Lotus Eaters raised this point as not as easy at it sounds.

Turning a commercial building into residential apartments is basically impossible as it requires a total internal fit out. It will probably be cheaper to demolish and rebuild if you wanted too.

Edit: Someone did a basic calculation of the numbers and it's not great: https://cre.moodysanalytics.com/insights/cre-trends/office-to-apartment-conversions/

Maybe if the price of commercial real estate crashed, but if that happened the overall economy would most likely be affected so who knows what the costs would be.

Dan from Lotus Eaters raised this point as not as easy at it sounds.

Turning a commercial building into residential apartments is basically impossible as it requires a total internal fit out. It will probably be cheaper to demolish and rebuild if you wanted too.