What It Really Takes to Convert an Office Building to Apartments | Odd Lots

Big cities like New York have two real estate problems. Housing is scarce and office buildings are under-utilized. So there would seem to be an obvious solution: turn the office buildings into housing. Indeed, there's been a lot of talk lately about "office-to-residential" conversions given the current, post-pandemic state of affairs. But it's not that simple, for at least three big reasons. Zoning, financing and the often-complex necessities of construction all need to be addressed. On this episode of Odd Lots, we speak with Joey Chilelli, a managing director at the Vanbarton Group, a firm that's been involved with these projects for a decade, and discuss the challenges of actually pulling off a conversion.

Bloomberg's Joe Weisenthal and Tracy Alloway analyze the weird patterns, the complex issues and the newest market crazes. Join the conversation every Monday and Thursday for interviews with the most interesting minds in finance, economics and markets.

Subscribe to Bloomberg Podcasts: https://bit.ly/BloombergPodcasts
Check out more Odd Lots:    • Odd Lots  

Get the Odd Lots newsletter via https://www.bloomberg.com/account/new...
And for all things Odd Lots, visit https://www.bloomberg.com/oddlots

Visit our other YouTube channels:
Bloomberg Television:    / @markets  
Bloomberg Originals:    / bloomberg  
Quicktake:    / @bloombergquicktake  

#Bloomberg #Podcast #OddLots #Housing #Business #Markets #Finance

For coverage on news, markets and more: http://www.bloomberg.com/video