Episode
This Is How We Do It: The playbook for office-to-residential conversions
- Podcast
- The Weekly Take from CBRE
- Published
- Mar 30, 2026
- Duration seconds
- 2074
- Processing state
not_requested- Canonical source
- https://www.cbre.com/insights/the-weekly-take#overview
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Summary
How did the largest office-to-residential conversion come about? Brian Steinwurtzel of GFP Real Estate offers an inside look at how lower Manhattan’s 25 Water Street, a struggling office tower that was transformed into more than 1,300 apartments. He discusses what this landmark project signals for urban resilience. · The right acquisition price and bold design and amenity choices can turn challenged office assets into world‑class residential properties. · Tax incentives can often be the deciding factor in whether a conversion is viable. · Fast execution is essential for controlling risks and costs in today’s market. · Office-to-residential conversions are highly bespoke, where building bones matter more than any rule-of-thumb formula. · Great residential conversions are redefining downtowns, but their future hinges on policy, pricing and how the next market cycle unfolds.