REBNY Next Gen. panel highlights office-to-residential conversion as key to New York State’s housing future

Manhattan, NY The Real Estate Board of New York (REBNY), gathered members together on October 16 for its latest Residential Next Generation event, a panel discussion titled “From Office to Home: Commercial to Residential Conversions.”

Hosted at SoMA, 25 Water St., a former office tower now transformed into a residential community with more than 100,000 s/f of amenity space, the panel featured Brian Steinwurtzel of GFP Real Estate, Nathan Berman of MetroLoft and Benjamin Gray of Apollo Global Management. The discussion was moderated by Basha Gerhards, executive vice president of public policy at REBNY, and explored how policy, financing and design are shaping new housing opportunities across New York City.

Key themes included:

• Programs such as 467-m driving conversion of underused commercial buildings into housing, aligning private investment with public need.

• Repositioning outdated Class B and Class C buildings offers an opportunity to modernize the city’s building stock and respond to shifting tenant demands and the housing shortage.

• Integrating retail and amenities thoughtfully strengthens the residential feel of converted buildings and enhances the overall tenant experience.

Since 2023, REBNY’s Residential Next Generation events have brought members together to learn from industry experts on topics that help professionals launch their careers and expand their business. As New York City redefines what’s possible for its buildings and neighborhoods, REBNY continues to unite the voices and visionaries driving change.