Everyone is saying plumbing/utilities - that's not usually the biggest cost or issue with conversions (although it is expensive). It's lack of natural light an

Everyone is saying plumbing/utilities - that's not usually the biggest cost or issue with conversions (although it is expensive). It's lack of natural light and the size of the typical floor plate for offices that often render the projects impossible without significant structural rework. This building in manhattan is in the range of ~$400/500/sqft to renovate existing offices to apts [1]. ANd that's with concessions from Adams in NYC to allow for windowless office rooms in the space. Still likely better economics than a ground up rebuild, but likely only because the project can be completed and permitted much faster than a ground up project in big cities. 1 - https://gothamist.com/news/the-countrys-biggest-office-to-apartment-conversion-is-underway-inside-the-old-daily-news-office https://gothamist.com/news/the-countrys-biggest-office-to-ap...