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Stories Tagged as

Office vacancies

What does it take to convert office buildings into housing?

by Samantha Fields
Feb 28, 2024
New York, like many cities, wants to provide more housing and soak up empty office space. But the transition can be complex and costly.
The former office building at 160 Water St. in New York City will be home to residential tenants who can afford Financial District rents.
Samantha Fields/Marketplace
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That empty feeling: Office vacancy rates hit a new high

by Samantha Fields
Jan 9, 2024
Many companies have decided they want employees in the office only part of the time, but they don't want to pay rent on empty space.
As companies commit to long-term hybrid work environments, less office space is needed, leaving many buildings partially vacant.
C. Taylor Crothers/Getty Images
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