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Midtown is reeling: should its offices become apartments? Matthew Haag and Dana Rubinstein Dec 14, 2020 – 4.17pm Share New York | The pandemic is pummelling New York City's commercial real estate industry, one of its main economic engines, threatening the future of the nation's largest business districts as well as the city's finances. The damage caused by the emptying of office towers and the permanent closure of many stores is far more significant than many experts had predicted early in the crisis. Office space in midtown Manhattan could be converted into apartments under a proposal by t...

Midtown Is Reeling. Should Its Offices Become Apartments? The pandemic has created a crisis in New York City’s commercial real estate industry. Some leaders think it’s time to reimagine the city’s business districts. Nearly 14 percent of office space in Midtown Manhattan is vacant, the highest rate in 11 years.Credit...Gabby Jones for The New York Times Dec. 11, 2020 The pandemic is pummeling New York City’s commercial real estate industry, one of its main economic engines, threatening the future of the nation’s largest business districts as well as the city’s finances. The damage...