Office-to-residential conversions have skyrocketed in New York City, with nearly 20,000 residential units in the pipeline in coming years, the most of any city in the nation.
It takes more than the flip of a switch for office owners to pivot their assets to residential use, however.
The existing asset must be reconfigured to accommodate structural modifications, residential zoning requirements and infrastructure upgrades, said Stanford Chan, senior principal at SOCOTEC, an architectural, engineering and life safety consulting firm.
“If an owner is looking to do a conversion, there’s a technical feasibility phase that needs to happen to understand the upgrades that are required in…
Source: What Does It Take To Convert Office Space To Residential In NYC? Industry Experts From SOCOTEC Weigh In