Submitted by psychothumbs t3_11dbqqj in nyc
-wnr- t1_ja874bo wrote
Reply to comment by ZweitenMal in Midtown Owners Hedge on Costly Office-to-Home Conversions by psychothumbs
It's not as easy as owners just deciding to do a conversion. The article discusses some real challenges that stand in the way. Even buildings with a lot of vacancy still have some long term commercial tenants still on lease, or a company with no experience with conversions may look to sell to someone who does, or zoning changes might be needed first. There's a lot of things that takes time and bog down the process.
CaptainObvious1906 t1_ja8dpxa wrote
much of the challenge seems to be zoning, conversion laws created before the pandemic and developers whining for tax breaks. I also don’t understand how we have politicians who don’t support doing everything in their power to remove the red tape and allow owners to convert their buildings more easily.
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