How empty office buildings could help NYC solve its housing crisis

Contributing sentiments towards policy:

57% : The way is to give landlords property-tax abatements to help pay the high costs of converting useless old offices to rental apartments.
57% : Rudin Management, which owns half-empty 845 Third Ave., built in 1963, also is watching.
52% : But now, SL Green is floating the eminently practical idea of giving developers tax breaks, not necessarily to put up brand-new buildings, but to convert existing but useless offices to new homes, provided that the conversions include a meaningful number of affordable units.
49% : At 750 Third Ave., for example, the city would forego $10 million in annual property taxes.
48% : A similar approach helped to save the Wall Street area from ruin a quarter-century ago, when former Mayor Rudy Giuliani, with state backing, gave tax relief to owners of over-the-hill downtown office buildings to redesign them for housing.
45% : But the city is projected to collect $16.1 billion in property tax revenue in the second quarter of 2024 alone, said the city comptroller's office.

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