A Wave of New Apartment Buildings Is Set to Take Over Midtown Manhattan

A wave of office-to-apartment conversions is coming to midtown Manhattan, providing relief to New York’s housing shortage. Natalie Wong reports Read more: https://www.bloomberg.com/graphics/2025-nyc-midtown-office-conversions/

New York’s housing crisis has also come into stark focus as the city prepares for a heated mayoral election in November. Zohran Mamdani, who won the Democratic primary, has been pushing to freeze rents on the city’s stock of rent-stabilized apartments. That could throw a wrench into developers’ calculations on projects, as many companies are relying on a tax break that requires them to include those types of units in their buildings.