Sign in
Today's edition

This content was substantially created by generative artificial intelligence.

Conversion incentive opens to its first applications

The nine applications propose 1,800 apartments, and none has yet been granted an abatement.

Citywide · October 12 · Based on 3 documents

AreaNew York

Key facts

Nine applications listed

Seven are in Manhattan

1,800 apartments proposed

Window opened October 1

The Department of Buildings portal lists nine applications under the office conversion incentive, all received since the application window opened on October 1. Seven of the nine are for buildings in Manhattan. The first carries a time stamp of 9:12 a.m. on October 1, the day the window opened.

9

Applications listed on the portal

Together the nine applications propose 1,800 apartments. That is an average of 200 apartments per application. The other two applications are outside Manhattan, and the portal lists all nine as under review.

Keep reading with a membership.

Still in this story

The building profile in the land use record

The term and start of the abatement

What the register shows as granted so far

Members read every story, in every market, and add reporting in the zone they choose. Free for 30 days, then US$10 a month.

Start your free trialSign in

Sources

1NYC Department of BuildingsConversion incentive applications2NYC Department of City PlanningLand use record3NYC Department of FinanceProperty tax abatement register
TopicsHousing policy·Offices
tax abatement

More from New York

Midtown SouthMidtown South·7 h agoTwo Sixth Avenue floors change hands ahead of a conversionTwo Sixth Avenue floors change hands ahead of a conversionThe filing lists apartments on the upper floors.Hudson YardsHudson Yards·October 26Hudson Yards: community board reviews a 15-block rezoningHudson Yards: community board reviews a 15-block rezoningThe application lists 810 new homes.Financial DistrictFinancial District·October 22The first conversions, five years onThe first conversions, five years onFiled budgets rose on four of the six buildings.Midtown EastMidtown East·October 20Newer glass towers post the highest vacancy in Midtown EastNewer glass towers post the highest vacancy in Midtown EastMidtown SouthMidtown South·October 12Two Midtown South towers trade at steep discountsTwo Midtown South towers trade at steep discountsBoth sold for less than half of their last recorded price.Financial DistrictFinancial District·September 10109 Cedar Street: filing seeks to turn 9 office floors into 54 apartments109 Cedar Street: filing seeks to turn 9 office floors into 54 apartmentsThe application reached the Department of Buildings on September 10, 2026.