Office-to-Residential Conversions: A Growing Trend

Want to live in Times Square? Its touristy, so probably not, but its not affordable.

Now, people with about 80% of Times Squares Median AMI will be able to live here (well, minus the tourists) and enjoy the noise of the nearby tourists (not a great location but a GREAT cause-I will say)

So in math terms, the conversion of 5 Times Square, a 38-story office tower, will turn into a mixed-use development with 1,250 new homes. Approximately 313 of these apartments will be permanently affordable to New Yorkers earning up to the previously mentioned 80% AMI. This project not only contributes to increasing the city's housing stock but also revitalizes a prominent location in the heart of Manhattan.

Read full article here:https://www.6sqft.com/times-square-office-tower-to-become-1250-apartments/?utm