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Arpit Gupta - 2 you'll - 1 they've - 1 everyone's - 1 Steven Paynter - 1 we've - 1 John Cetra - 1 it's - 1
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Search resuls for: "Arpit Gupta"


3 mentions found


☆ Your next apartment could be someone's old cubicle as developers rush to convert empty offices
  + stars: | 2023-08-27 | by ( Eliza Relman | Juliana Kaplan | ) www.businessinsider.com   time to read: +9 min
The mayor of New York City aims to turn old office buildings into 20,000 new apartments. The Manhattan-based architect John Cetra, who has worked on office conversions since the 1980s, calls it "the amenity war." His firm, CetraRuddy, recently announced it's leading the conversion of a 30-story office building, formerly home to Goldman Sachs, in Manhattan's financial district. Adams' goal is to create up to 20,000 new homes for 40,000 New Yorkers in converted office buildings over the next decade. AdvertisementAdvertisementNew York City has already had some success in converting office buildings to homes.
Persons: you'll, they've, everyone's, Steven Paynter, we've, John Cetra, it's, Goldman Sachs, Cetra, Eric Adams, Paynter, He's, who's, Adams, We've, Dan Garodnick, Mark Hogan, Hogan, Charles Bloszies, I've, that's, Bloszies, Garodnick, Arpit Gupta Organizations: Service, CetraRuddy, York, US Department of Housing, Urban Development, Yorkers, New York City's Department of City Planning, San Francisco, Supervisors, New York Stock Exchange, NYU Stern School of Business, Research Locations: New York City, Wall, Silicon, York, San Francisco, Manhattan, Toronto, Calgary , Alberta, York City, Francisco, New York
☆ 'Zombie' offices could turn into 400,000 new apartments for families. That's almost double the number of new US units in a typical year.
  + stars: | 2023-08-07 | by ( Eliza Relman | Juliana Kaplan | ) www.businessinsider.com   time to read: +5 min
The rise of remote work, high interest rates, and climate regulations all pose problems for office buildings. A new study found that more than 2,000 US office buildings could be converted into up to 400,000 apartments. And new environmental regulations require that buildings meet certain energy efficiency standards that can require costly renovations. Turning office buildings into apartments isn't a new concept, and it's one that New York City has embraced in theory. Of course, office buildings require some retrofitting to be turned from sprawling workplaces to livable apartments.
Persons: Arpit Gupta, Candy Martinez, Stijn Van Nieuwerburgh, Insider's Jordan Hart Organizations: Service, National Bureau of Economic Research, Los, New York City, jkaplan Locations: Wall, Silicon, Greater New York City, San Francisco, Los Angeles, New York City, New York
☆ Remote Work Is Gutting Downtowns, Will Cost Cities $453 Billion
  + stars: | 2022-12-06 | by ( Emil Skandul | ) www.businessinsider.com   time to read: +13 min
Even 2 1/2 years later, most city downtowns aren't back to where they were prepandemic. Without more-robust policies to address failing downtowns, cities are going to start hurting. The increased cancellations of office leases have cratered the office real-estate market. Since 2016, only 112 commercial office spaces in the US have been converted, while 85 projects are underway or have been announced, according to CBRE's data. The birth of the central social districtTo avoid a commercial real-estate apocalypse, cities will need to streamline conversions.
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