Breaking NewsGlobeSt.com will be offline for scheduled maintenance Friday Feb. 26 9 PM US EST to Saturday Feb. 27 6 AM EST. We apologize for the inconvenience.

 
X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

New York Gov. Andrew Cuomo recently called for a change in regulations to permit commercial property owners to convert their buildings to residential uses. Lost in the fanfare of his announcement, however, was the hard reality of the many challenges facing redevelopment. Real Capital Analytics’ Jim Costello points out that cutting red tape isn’t the only factor limiting conversions. Repurposing a building is costly, and the only real way to make it pencil out is to buy the asset at a discount.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.