WSJ: New York City Halts Construction at Another Office-to-Residential Conversion
4 Articles
4 Articles
[Ddangjipgo] As the U.S. commercial real estate market undergoes restructuring following the COVID-19 pandemic and the impact of high interest rates, conversion projects—renovating aging office buildings into residential apartments—are expanding to an all-time high. However, securing structural safety and business viability have emerged as new challenges, such as the recent risk of building collapse at a large site in New York. ☞ Commercial and…
NYC Stops Construction On Another Office-To-Residential Conversion As Inspectors Descend On Job Sites
Construction work has been halted at a second Manhattan project as city officials embark on an inspection onslaught at office-to-residential conversions following the near collapse of a Midtown skyscraper. City inspectors ordered that construction be stopped at GFP Real Estate’s 222 Broadway on Friday, The Wall Street Journal first reported. The issue revolves around a contractor’s failure to notify the Department of Buildings after two newly i…
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