Jhamil Moore, MBA’s Post

There’s been a lot of talk lately about converting struggling office buildings into apartments as a way to revitalize not just the properties, but the central business districts of US gateway cities, especially New York's. In fact, many of the owners, developers, investors and funds we talk with are contemplating the idea in hopes of turning around their distressed office assets. In Part 2 in our on-going series on multifamily conversions, we take a detailed look at office to apartment conversions, including the number of recent conversions, which office buildings are good candidates for conversion and the market conditions that support apartment conversions. Read Part 2 at https://bit.ly/3XVJZMs #commercialrealestate #multifamily #multifamilyconversions #officebuildings #apartments #offices

📊 According to RealPage, one-bedroom units logged occupancy at 94.1%, closely followed by two-bedroom units at 94.2% in January. 🏠 Meanwhile, three-bedroom and efficiency units lagged behind at 93.4% and 93.3%, respectively. No surprise there, as working from home favored larger spaces. Now, with shifting needs, tenants might be downsizing to smaller units. 🔄💡 #RentalTrends #SpaceOptimization #RealEstateInsights

📈 Despite rising office vacancies, urban multifamily housing continues to thrive. According to Jay Lybik at CoStar Analytics, renters still gravitate toward downtown living for its lifestyle and amenities, even if they don't need to be in the office every day. 🏙️ This ongoing demand is steadily narrowing the rent growth gap between urban and suburban properties, reinforcing the appeal of city life for many. Explore more on how the multifamily market is evolving amidst changing office dynamics 👇 #realestate #urbanliving #multifamilyhousing #markettrends #citylife #realestateinsights

What’s trending up these days? 🏢 In multifamily apartment construction, we're seeing a shift towards more tech-enhanced communal areas, modern athletic facilities, increased communal spaces for residents to connect, and designated areas for remote work and office use. What new industry trends are catching your eye?

🏙️ Making Cities Better, One Project at a Time Real estate is about more than buildings; it’s about people. Every property we acquire enhances its community and creates opportunity. From office spaces to multifamily housing, our projects shape cities, and you can be part of this impact #CommunityImpact #CityGrowth #UrbanDevelopment #RealEstateVision #BuildingCommunities #OpportunityCreation #ShapingCities #InvestInTheFuture

Revolutionizing Real Estate: Converting Office Buildings into Multifamily Homes Discover the future of real estate as we explore the trend of converting empty office buildings into high-quality multifamily homes. Join us as we discuss the impact on the market, the challenges, and the potential solutions. Don't miss out on this game-changing opportunity! #RealEstateTransformation #OfficeToHome #MultifamilyLiving #FutureofHousing #RealEstateTrends #PropertyDevelopment #ResidentialConversion #UrbanLiving #HousingSolutions #PropertyInvestment

Crain's on Real Estate: Office-to-resi conversions seeming less fanciful by the day. (And made more possible by #CityofYes for Housing.) https://lnkd.in/evjeCwcp

𝐒𝐮𝐧𝐫𝐢𝐬𝐞 𝐢𝐧 𝐂𝐡𝐚𝐧𝐝𝐥𝐞𝐫 𝐢𝐬 𝐬𝐨𝐦𝐞𝐭𝐡𝐢𝐧𝐠 𝐬𝐩𝐞𝐜𝐢𝐚𝐥. It’s in a prime sub-market with an incredibly high, steady occupancy rate and is already cash flowing. ⇒ It’s currently 97% occupied. You might be wondering, if it’s already at 97%, how will we profit from it? Sunrise in Chandler hasn’t been updated in over a decade and desperately needs interior and exterior renovations. Only 11% of the units have been upgraded so far which creates a fantastic opportunity as a value-add multifamily asset. Offering competitive rents, high-quality amenities, and excellent tenant services will be crucial to attracting and retaining residents in these competitive market environments – which, thankfully, is something we excel at. #AscentEquityGroup #PassiveInvestor #RealEstate #RealEstateInvesting #RealEstateInvestor #InvestingTips #Investing101 #Landlord #sidehustle #PropertyManagement #Investing #Investor #InvestingStrategy #InvestingOpportunity #HowToInvest #InvestingForBeginners #PassiveIncomeStream #PassiveIncomeIdea #Arizona

Seems this trend is continuing forward. It's encouraging to see this prime space being repurposed to address the need for more affordable housing, and the impact it's having on "walkable cities". #FTK #ApartmentConversion #AdaptiveReuse

Amidst the spotlight on the office sector, it is important to also address the challenges facing other real estate sectors. Multifamily is expected to face its own set of obstacles in 2024. Check out the latest article from Mark Podgainy, Managing Director and Real Estate and Hospitality Practice Leader at Getzler Henrich & Associates, for more information. https://lnkd.in/ehpx3YuA