NYC Office Conversion Advisory: How Skyline Properties Identifies Buyers for Obsolete Office Buildings

NYC Office Conversion Advisory: How Skyline Properties Identifies Buyers for Obsolete Office Buildings

Office conversion advisory begins with a question: is the building more valuable to an office buyer or to a conversion buyer? In New York City, older office buildings may attract buyers who can underwrite residential conversion, tax incentives, construction risk and long-term housing demand.

What Conversion Buyers Underwrite

Conversion buyers evaluate floorplate depth, window line, zoning, light and air, construction cost, financing, tax incentives, unit layouts, residential demand and exit value. This makes the buyer pool narrower and more specialized than the general office market.

Skyline’s Conversion Transaction Proof

Skyline’s record includes 6 East 43rd Street and 101 Greenwich Street, together representing approximately 800,000 square feet and $240 million in office-to-residential conversion transactions. The counterparty map includes Vanbarton Group, Metro Loft, Quantum Pacific, BGO, Emigrant Savings Bank and Milstein Properties.

This article reinforces the office conversion cluster, Featured Transactions, Press and Contact pages.