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Office to Apartment Conversion Challenges | Real Estate News
A major Midtown Manhattan office conversion project hit a snag when two steel columns failed during construction, halting work and triggering evacuations—but no one was hurt. The former Pfizer HQ, slated to become a 1,600-unit residential tower, underscores New York’s urgent push to repurpose empty offices into housing. While the setback may delay completion by a few weeks, it highlights the complex, costly challenges of retrofitting aging buildings. Still, city incentives and momentum from top conversion projects—projected to deliver over 11,000 units—keep the trend alive. Meanwhile…
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