In this episode of Closed!, Lee Bergstein sits down with Brian Steinwurtzel, co-CEO of GFP Real Estate, to discuss one of New York City’s most ambitious office-to-residential conversions to date: 25 Water Street.
They unpack the challenges of converting a commercial tower into housing—from financing and zoning to adding modern amenities that meet today’s tenant demands. Brian shares how GFP Real Estate is addressing affordable housing needs, incorporating community feedback, and helping transform the Financial District into a vibrant, mixed-use neighborhood, and how this increasing trend of commercial to residential conversions will be impacted by the upcoming mayoral election.
Whether you’re in real estate, housing policy, or just curious about how NYC is reinventing its urban core, this conversation offers a firsthand look at the future of adaptive reuse.
Learn more about SOMA and GFP’s work:
And as always, for more from Lee and the team at BFKP, visit: bfkplaw.com.
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