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Mike Scott Quoted on Potential Boston Office Conversions in Banker & Tradesman

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Co-Managing Partner Mike Scott discussed how Boston is exploring the revival of the downtown economy through conversions of neglected offices into housing in Banker & Tradesman. In the article, “Wu Signals Help for Battered Office Buildings,” Mike addressed how owners of low-occupied office buildings would need to wait for remaining tenant expirations or buy out leases before launching residential conversions. “It’s not going to be easy to make the math work,” Mike said. “What is the cost of conversion, and is it less than building new? How much debt is on the building, and how do you account for the costs to buy out some of the tenants?”

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