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NYC real estate
Homes Became Offices, and Offices Became Homes
About 28,000 new rental apartments were created in the United States by converting large, former commercial buildings into residential ones from January 2020 through December 2021, a significant increase compared to prepandemic and a decade ago.Old office buildings led the way in what is known as adaptive reuse, according to a new study by RentCafe, a real estate research, listings and property management company, which looked at the conversion of buildings into residences with at least 50 units.
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