Few ideas in housing have generated more excitement and opportunity over the past decade than the conversion of old office buildings into new apartment complexes.
After office buildings emptied during the COVID-19 pandemic, New York state and city officials have enacted a range of measures and tax breaks to incentivize the conversion of sterile structures once filled with filing cabinets and watercoolers into boutique apartment complexes with panoramic-windowed bedrooms, home offices and plenty of amenities.
The largest project of them all was underway at Pfizer’s former headquarters in Midtown — until steel beams in the tower’s middle floors nearly snapped in half Tuesday morning…