NYC's best shot at affordable housing has hit some roadblocks

Business Insider | 11-09-2026 12:08pm |

Office-to-residential conversions, a leading housing strategy in New York City, have faced safety concerns this summer. A "stop work" order was issued for the former Pfizer building in Midtown due to structural issues with steel columns, prompting fears of a collapse and temporary evacuation of the surrounding area. A lower Manhattan conversion at 222 Broadway was briefly halted over reports of a cracked horizontal concrete beam, and a Midtown East conversion at 750 Third Avenue was partially stopped due to problems with steel columns. Retrofitting plumbing, windows, and floor plans for housing is costly and complicated, but conversions are here to stay to address the supply shortage.

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