‘These aren’t vacant buildings.’ Real-estate developer Nathan Berman explains why turning old offices into homes isn’t so simple.
New York City, Chicago and San Francisco are among the big U.S. cities drawing up plans to revitalize their central business districts by converting old office buildings to residential use.
MarketWatch photo illustration/iStockphoto
Cities counting on sweeping plans to quickly turn half-empty office buildings into new homes might want to listen to Nathan Berman, the longtime go-to guy for residential conversion projects in lower Manhattan.
Berman made his mark on New York City’s financial district before and after 9/11 with Metro Loft, his property-development firm, which is known for transforming outdated buildings in the fabled business district into places people want to live.
“The…
