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New York's iconic Flatiron Building is set for a major transformation! 🏙️ Jeffrey Gural's recent purchase of this historic landmark has sparked an exciting development plan. The vision? Converting this former office space into much-needed residential apartments. As a real estate professional, I'm thrilled to see this adaptive reuse project taking shape. It's a perfect example of how we can breathe new life into our beloved architectural treasures while addressing the city's pressing housing needs. Here's what we know so far: 1. Plans have been submitted to the NYC Department of City Planning 2. The conversion aims to meet the growing demand for housing 3. It's a response to the decreasing demand for office space in the city This project raises some interesting questions: - How will this conversion impact the neighborhood? - What challenges might arise in transforming such a unique building? - Could this set a precedent for other iconic buildings in NYC? What are your thoughts on this development? Are you excited to see the Flatiron's next chapter unfold? Let's discuss! Share your opinions or experiences with similar conversion projects. #NYCRealEstate #AdaptiveReuse #FlatironBuilding #UrbanDevelopment #HousingMarket #TheAceTeam #RealBrokerLLC

New York's iconic Flatiron Building is set for a remarkable transformation! 🏙️ As a real estate professional, I'm excited to share the latest developments in this historic conversion project. Jeffrey Gural's vision to repurpose this architectural gem into residential spaces is taking shape, addressing two crucial urban trends: 1. The growing demand for housing in NYC 2. The declining need for traditional office spaces Here's what we know so far: • Plans have been officially submitted to the NYC Department of City Planning • The conversion aims to create much-needed apartments in the heart of Manhattan • This adaptive reuse project could set a precedent for other iconic buildings in the city This move reflects a broader shift in urban living and working patterns. As a real estate expert, I see immense potential in reimagining our cityscapes to meet evolving needs. What are your thoughts on this transformation? • Do you think more historic buildings should be converted for residential use? • How might this impact the neighborhood and property values? • What challenges do you foresee in such a conversion project? Let's discuss the future of urban living and how we can creatively address housing shortages while preserving our architectural heritage. #NYCRealEstate #AdaptiveReuse #UrbanLiving #FlatironBuilding #TheAceTeam #RealBrokerLLC

Today's Did You Know in Commercial Real Estate Recent news surrounding the Flatiron Building in Manhattan has focused on its conversion from office space to residential units. The current owners—GFP Real Estate, The Brodsky Organization, and The Sorgente Group—are pushing forward with plans to transform the iconic building into 60 luxury condominiums. This comes as the building has remained vacant since 2019, when Macmillan Publishing left, and amid high office vacancy rates in Midtown Manhattan. The developers filed an application with the city to convert approximately 200,000 square feet of space into residential units, leaving only a small portion for ground-floor retail. Reports disclosed that the conversion may start in 2025. The Flatiron Building's distinctive triangular shape and historic status is said to remain largely unchanged, though it will undergo internal renovations to modernize it for residential use. This shift is part of a broader trend in New York City, where older office buildings are being repurposed to meet the growing demand for luxuryhousing. LEARN MORE: www.nyccrea.com FOLLOW US: Facebook: https://lnkd.in/gqGzQetJ Instagram: https://lnkd.in/gCX3yNkw LinkedIn: https://lnkd.in/ghpstcR8 #NYCCREA #NewYork #CommercialRealEstate #Leased #Sold #DouglasEllimanCommercial #DouglasElliman #DouglasEllimanNewYork #LlorensNakos #Llorens_nyccrea #AndreasNakosRealtor

Here are 5 key traits we're using to revitalise high streets and town centres for a sustainable future.

There's a surge of optimism across the DC Metro area, driven by groundbreaking commercial real estate initiatives ready to redefine the landscape. Here are 4 noteworthy projects to watch as we head into 2025: - Viva White Oak in Silver Spring plans to convert 280 acres into a new town with 12.2 million square feet of mixed-use space. - The Gallery Place vision aims to revitalize D.C.'s urban core and improve city connectivity. - Around 20 office-to-residential conversions are in progress in D.C., revitalizing areas from Dupont Circle to Chinatown. - Projects like Sycamore & Oak and Poplar Point are transforming the Anacostia River area into vibrant residential and commercial hubs. These projects demonstrate that despite current market challenges, innovation and opportunity continue to thrive in Greater Washington! Keep an eye on these developments as the region evolves: https://lnkd.in/g6gJAn6i #greaterwashington #dcrealestate #commercialproperty

Denver-based Revesco Properties partnered with Davis Partnership Architects to submit plans to the city of Denver on February 2 to convert a 16-story office building at 475 17th St. into about 210 affordable and market-rate apartments. The building was designed in 1973 and is currently 57% vacant. No leases will be ended early because of the possible conversion. Looking at the makeup of the proposed conversion, two-thirds of the apartments will be for people earning 80% of the area median income or below. One-third will be market-rate apartments. There will be studios, one-bedroom, two-bedroom and three-bedroom units.  There is no parking onsite. Retail space is planned for the first floor. #DenverRealEstate #AffordableHousing #PropertyConversion #DenverDevelopment #RevescoProperties #DavisPartnershipArchitects #UrbanRenewal #HousingForAll #CommunityDevelopment #DenverApartments #MarketRateHousing #UrbanPlanning #SustainableLiving #AffordableLiving #CityRevitalization #MixedUseDevelopment #DenverArchitecture #InclusiveHousing #DenverBusiness #RetailSpace #PropertyTransformation #CommunityEngagement #DenverCityPlanning #SustainableUrbanLiving

Some exciting updates from my volunteer docent work at the Chicago Architecture Center! 🏙️ Currently leading walking tours around downtown Chicago and aiming to get certified for the river cruise tour – the not-for-profit center's top revenue generator. During a recent tour practice, I viewed the city's buildings through a commercial real estate lens, finding optimism despite challenges for downtown property owners. On the tour, I highlighted the transformation of various buildings like London House Chicago, Tribune Residences, and River Lofts, showcasing adaptive reuse from offices to hotels or residential units. Examples also include 600W and the Old Post Office (an amazing space). And there's The Montgomery, a 1972 office property converted to condo units in 2005. Despite market shifts, I believe in the resilience of entrepreneurial investors and developers to innovate. As pricing adjusts and demand evolves in the work-from-anywhere era, it's crucial to anticipate the future of office and residential spaces. Exciting times ahead for the real estate landscape! 🌆 #ChicagoArchitecture #RealEstateTransformation #CommercialOptimism

The iconic Flatiron Building is getting a new lease on life! 🏙️ As a NYC real estate professional, I'm thrilled to share some exciting news about one of our city's most beloved landmarks. The Flatiron Building, that triangular masterpiece that's graced our skyline since 1902, is set for a remarkable transformation. Here's the scoop: • The 22-story building is being converted from office space to luxury condominiums • 60 residential units are planned, with completion expected by 2026 • About 200,000 sq ft will be dedicated to residential use, with 5,000 sq ft remaining for commercial space on the ground floor This project is a perfect example of how we're adapting to changing urban needs. With the shift in work patterns post-pandemic, we're seeing more office-to-residential conversions across the city. It's a win-win: we preserve our architectural heritage while addressing the housing shortage. I'm curious: What other iconic NYC buildings would you like to see repurposed for residential use? 🤔 As we watch this piece of history evolve, I can't help but wonder: Who will be lucky enough to call the Flatiron Building home? Imagine waking up to those unique views every day! #NYCRealEstate #FlatironBuilding #UrbanDevelopment #LuxuryLiving #CelindaIaboni #RealBrokerLLC #RealBrokerage

Transforming Historic Mass. Landmark into New Mixed-Use Hub 🏠 As our communities continue to grow, the need for affordable and attainable housing becomes increasingly urgent. But what if we could provide this much-needed housing while preserving our historic landmarks? That's exactly what adaptive reuse and property conversions are doing across the country. 🚧 Take a look at the transformation of a historic mass landmark into a new mixed-use hub. By repurposing existing buildings, we can create unique and affordable housing options for our communities while also preserving our rich history. 🔨 These projects not only provide much-needed housing, but they also bring new life to forgotten buildings and revitalize our neighborhoods. It's a win-win solution for both our past and our future. 💰 With the rising costs of new construction, adaptive reuse and property conversions offer a more cost-effective solution for creating affordable and attainable housing. Let's continue to support and promote these initiatives to tackle the housing crisis in our communities. #affordablehousing #attainablehousing #adaptivereuse #propertyconversions #historicpreservation #communityrevitalization #housingcrisis #sustainabledevelopment #buildingenclosure #preserveyourpast #createyourfuture

Billionaire Ken Griffin is painting a visionary future for Miami's skyline with his $1 billion-plus mixed-use tower project! This isn’t just about a building; it's about progress, innovation, and Miami's growth trajectory as a financial and technological hub. Griffin's commitment to elevating the Brickell Financial District with office spaces, luxury living, and retail is a powerful testament to the city's dynamic evolution. With Norman Foster's exceptional architecture and the strategic location leveraging Miami-Dade County’s rapid transit zoning, this project underscores a trend where tech and finance growth go hand in hand with urban development. This is incredibly exciting news for professionals in the tech and finance sectors. I am excited to be headhunting them, as this represents a call to be part of a transformative era. With Ken Griffin moving Citadel’s headquarters to Miami, the city is poised to become a magnet for talent, innovation, and investment. The new tower at 1201 Brickell Bay Drive symbolises how strategic investments can shape the future of cities and industries alike. Miami, get ready to reach new heights! #MiamiRising #TechGrowth #FinanceGrowth #UrbanDevelopment #InnovationHub