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Office Space New York

Cozen O'Connor

“City of Yes for Housing Opportunity” Approved by the City Council

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On December 5, 2024, the New York City Council approved with modifications the NYC Department of City Planning’s (DCP) City of Yes for Housing Opportunity, the third and final of Mayor Adams’ City of Yes initiatives. The new...more

Cole Schotz

Navigating the NYS 2024/2025 Executive Budget and Its Impact on NYC Multifamily Housing (Part 2 of 4)

Cole Schotz on

New York recently adopted the Affordable Neighborhoods for New Yorkers (ANNY) Tax Incentive and the Affordable Housing from Commercial Conversions (AHCC) Tax Incentive programs, as well as a host of other new and modified...more

Cozen O'Connor

New York Note – Traffic Mobility Review Board, City of Yes, Outdoor Dining

Cozen O'Connor on

Traffic Mobility Review Board- The Traffic Mobility Review Board held their second meeting last Thursday. They discussed a variety of possible exemptions, including “cross credits” for drivers who paid bridge or tunnel...more

Cozen O'Connor

Adams Administration Announces Three New Initiatives to Spur Office-to-Residential Conversions

Cozen O'Connor on

On August 17, 2023, Mayor Eric Adams and Chair of the New York City Planning Commission Dan Garodnick announced three initiatives to assist in creating much-needed housing. The proposals focus on easing the process for...more

Cole Schotz

New M-CORE Program to Incentivize Manhattan Office Renovations

Cole Schotz on

The New York City Economic Development Corporation (NYCEDC) and the New York City Industrial Development Agency (NYCIDA) have launched the Manhattan Commercial Revitalization (M-CORE) Program to incentivize owners and...more

K&L Gates LLP

Manhattan Commercial Revitalization Program (M-CORE) Launched to Transform Aging Office Buildings

K&L Gates LLP on

As many companies settle into hybrid work models, office occupancy rates in the United States have flatlined during the first half of 2023. In the Borough of Manhattan (the Borough) in New York City, upwards of 255 million...more

Cozen O'Connor

NYC Task Force Issues Recommendations for Residential Conversion of Unused Office Space

Cozen O'Connor on

This week, New York City’s Office Adaptive Reuse Task Force released a study calling on the city and New York State to loosen regulations preventing the conversion of older office stock into much-needed housing....more

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