logo
episode-header-image
Jul 2023
46m 27s

What It Really Takes to Convert an Offic...

bloomberg
About this episode

Big cities like New York have two real estate problems. Housing is scarce and office buildings are empty (or at least under-utilized.) So there would seem to be an obvious solution: turn the offices into homes. And indeed there has been a lot of talk lately about "office-to-resi" conversions. But it's very hard, for a wide variety of reasons. Zoning, financing, and then, of course, the operational aspects of the construction all need to be in place. So what does it take? On this episode, we speak with Joey Chilelli, managing director at the Vanbarton Group, a firm that's been involved with these projects for a decade and long before the pandemic upended both real estate markets. We discuss the challenges involved in actually pulling off these complex projects.

See omnystudio.com/listener for privacy information.

Up next
Today
What's Behind the Big Surge in US Government Bond Yields
Global bond yields are at their highest level since 2008, with the 30-year US Treasury touching 5% just before Treasury Secretary Scott Bessent announced a surprise increase of his department's bond buyback program and Fed Chairman Kevin Warsh made his hawkish speech at Jackson H ... Show More
36m 36s
Sep 1
Adam Posen Thinks Things Could Get Very 'Messy' for the Fed
Kevin Warsh gave a hawkish speech at this year's annual Kansas City Fed Symposium in Jackson Hole, but that doesn't mean the challenges are over. Will the Fed actually pull the trigger on rate hikes? What happens if the central bank doesn't act quickly enough to curb inflation? A ... Show More
59m 42s
Aug 31
Richmond Fed’s Tom Barkin on the Surprisingly Resilient Real Economy
The implications of Fed Chair Kevin Warsh's Jackson Hole speech are pretty clear: Traders expect a rate hike given the hawkish hints littered in his address, largely focused on inflation. There are still a number of open questions and Warsh's lack of forward guidance does not exa ... Show More
31m 17s
Recommended Episodes
Aug 2023
Office Space
<p>In most big cities, there’s a housing crisis. And empty office buildings are creating a different crisis known to urbanists as a ‘doom loop.’ Converting an office into housing can solve both of these crises at once, using one piece of property. This solution just seems so obvi ... Show More
32m 55s
Jul 2025
What Is A Candidate For Office Conversion?
On today’s show we are talking about the conversion of office space. The problem with most office buildings is that they are the wrong shape to build apartments. Many office buildings are square in shape and most apartment buildings are rectangular, or L shaped, or U shaped. Apar ... Show More
5m 8s
Jan 2024
100 Million Vacant Square Feet
<p>On today’s show we are talking about commercial real estate and office in particular. </p> <p>The main stream media remain fixated on reporting the averages. They are focused on the bigger macro picture.</p> <p>For example last week the Wall Street Journal published a story al ... Show More
5m 44s
Jun 2023
Will empty offices hurt the US economy?
<p>The persistence of working from home, the rise in interest rates, and job cuts in finance and tech all spell trouble for the owners of office buildings. How bad will it get? And will the troubles in commercial real estate spill over to the broader economy?</p><br><p><strong>Li ... Show More
13m 38s
Aug 2024
How to fix a housing shortage
When Cody Fischer decided to get into real estate development, he had a vision. He wanted to build affordable, energy efficient apartments in Minneapolis, not far from where he grew up.His vision was well-timed because, in 2019, Minneapolis's city council passed one of the most a ... Show More
23m 29s
Dec 2022
REITs, Homebuilders, and the Return of Las Vegas
You can think of real estate in a lot of different ways, but at the end of the day it's just space. And that space is going through a lot of change. Interest rates are going higher, homes are getting more expensive, and companies continue to struggle with hybrid-work plans. Deidr ... Show More
27m 3s