July 6, 2023· 46 min

What It Really Takes to Convert an Office Building Into Apartments

Joey Chilelli

Orality

Model

72%

Oral-dominant (speeches, podcasts, storytelling)

Speaker Breakdown

HostJoe Weisenthal(2,460 words)

M:94%

HostTracy Alloway(4,316 words)

M:28%

GuestJoey Chilelli(1,739 words)

M:29%

Oral Indicators

Agonistic32%

literally, completely, definitely

Engagement67%

you, our, your

Memory Aids100%

listen, now, like

Repetition100%

like (128x), know (84x), it's (68x)

Parallelism83%

And I'm Tracy Alloway...., And they sort of complement ea..., So rents are too high....

Sound Patterns91%

86 question(s), alliteration: "markets move", alliteration: "barclays brief"

Formulaic Phrases6%

at the end of the day, i mean, if you will

Literate Indicators

Hedging7%

quite, maybe, probably

Passive Voice4%

been involved, be converted, be zoned

Abstract Nouns18%

investment, recommendation, city

Subordination4%

because, since, while

Sentence Length32%

Avg: 13.1 words/sentence

Word Complexity44%

investment, analyze, anticipate

Academic Markers0%

Impersonal Style33%

629 personal pronouns found

Descriptive Style83%

literally, completely, definitely

Description

Big cities like New York have two real estate problems. Housing is scarce and office buildings are empty (or at least under-utilized.) So there would seem to be an obvious solution: turn the offices into homes. And indeed there has been a lot of talk lately about "office-to-resi" conversions. But it's very hard, for a wide variety of reasons. Zoning, financing, and then, of course, the operational aspects of the construction all need to be in place. So what does it take? On this episode, we speak with Joey Chilelli, managing director at the Vanbarton Group, a firm that's been involved with these projects for a decade and long before the pandemic upended both real estate markets. We discuss the challenges involved in actually pulling off these complex projects. See omnystudio.com/listener for privacy information.

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