Latest REBNY Next Generation Panel Highlights Office-to-Residential Conversions as Key to NYC’s Housing Future

Event hosted at SoMA featured insights from industry leaders behind the conversion of more than 11,500 housing units across New York City

NEW YORK – The Real Estate Board of New York (REBNY), the City’s leading real estate trade association, gathered members together on October 16 for its latest Residential Next Generation event, a panel discussion titled “From Office to Home: Commercial to Residential Conversions.”  Hosted at SoMA, 25 Water Street, a former office tower now transformed into a vibrant residential community with more than 100,000 square feet of amenity space, the panel featured Brian Steinwurtzel of GFP Real Estate, Nathan Berman of MetroLoft and Benjamin Gray of Apollo Global Management. The discussion was moderated by Basha Gerhards, Executive Vice President of Public Policy at REBNY, and explored how policy, financing and design are shaping new housing opportunities across New York City.  Key themes included: 

• Programs such as 467-m driving conversion of underused commercial buildings into housing, aligning private investment with public need. 

• Repositioning outdated Class B and Class C buildings offers an opportunity to modernize the city’s building stock and respond to shifting tenant demands and the housing shortage. 

• Integrating retail and amenities thoughtfully strengthens the residential feel of converted buildings and enhances the overall tenant experience. 

Since 2023, REBNY’s Residential Next Generation events have brought members together to learn from industry experts on topics that help professionals launch their careers and expand their business. As New York City redefines what’s possible for its buildings and neighborhoods, REBNY continues to unite the voices and visionaries driving change. 

Please find more information on upcoming REBNY events here. 

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ABOUT THE REAL ESTATE BOARD OF NEW YORK 

The Real Estate Board of New York (REBNY) is the City’s leading real estate trade association. Founded in 1896, REBNY represents commercial, residential, and institutional property owners, builders, managers, investors, brokers, and salespeople; banks, financial service companies, utilities, attorneys, architects, and contractors; corporations, co-partnerships, and individuals professionally interested in New York City real estate. REBNY conducts research on various civic matters including tax policy, city planning and zoning, rental conditions, land use policy, building codes, and other city, state, and federal legislation. REBNY regularly publishes market data, policy reports, and broker surveys. In addition, REBNY provides for its members: informational, technical, and technological resources; networking and charitable service opportunities; qualifying and continuing education courses; professional education programs, seminars, and designations; career-changing awards; legal advice; and a wide range of additional member benefits. For more information, please visit www.rebny.com  

MEDIA CONTACT: 

Fiona Bundy 

fbundy@rebny.com 

(212) 616-5208