Vanbarton Group Defaults on 292 Madison Avenue
The Vanbarton Group defaulted on a $90 million Deutsche Bank loan backing 292 Madison Avenue
Source: therealdeal.com
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Rudin Offloads Former AIG Headquarters for $160M to Bushburg
Bushburg plans to convert the skyscraper's offices into residential units.
Source: commercialobserver.com
Why NYC office conversion projects are a massive boondoggle
It's easier said than done to convert fiscally distressed office towers into affordable housing.
Source: nypost.com
Too many cubicles, too few homes spur incentives to convert offices to housing
HERNDON, Va. — Juan Ramirez, watching his dog play in Chandon Park here in suburban Virginia on a Saturday morning, tries to imagine the massive office buildings next to the park becoming apartments and townhouses. “I guess it’s inevitable. People don’t use offices as much now. I hope it’s affordable. Maybe it’ll bring more young people […] The post Too many cubicles, too few homes spur incentives to convert offices to housing appeared first on North Dakota Monitor.
Source: yahoo.com
What does it take to convert office buildings into housing?
New York wants to encourage more office-to-housing conversions. But swapping commercial tenants for residential ones isn’t always easy.
Source: marketplace.org