NYC Offices Near Penn Station to Turn Into 107 Studio Apartments

New York City developers Marty Burger and Andrew Heiberger are embarking on one of the first office-to-residential conversion projects in an area of Manhattan known as Midtown South.

A joint venture led by the duo plans to invest nearly $70 million into the redevelopment of 29 W. 35th St., according to a statement. The office building, purchased for roughly $25 million, will become 107 studio apartments.

Rendering of 29 West 35th Street in New York.

Source: Williams New York

It’s the latest among a growing list of struggling office properties finding new life as housing across the city.

“NYC is in desperate need of residential housing,” Burger, the founder of Infinite Global ...