Wall Street reshaped by office conversions

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New York Chart of the Week

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  • Conversions of office properties to alternate uses—namely residential and hospitality—have been especially pronounced near the New York Stock Exchange.
  • Approximately 8.6 million square feet of Downtown office space has been repurposed from 2007 to present—more space than 1 World Trade Center, 4 World Trade Center, and 7 World Trade Center combined.
  • High-profile projects include 70 Pine Street, the former AIG headquarters, and 1 Wall Street, the former BNY Mellon headquarters.

Check out a larger version of the graphic and more JLL Charts of the Week

Sources: Alliance for Downtown New York, JLL Research

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