On this episode of the Bisnow Reports podcast, we hear from Rudin Management CEO Bill Rudin about New York’s up-and-down office market and selling a majority stake in 55 Broad St. to Silverstein Properties and Metro Loft for the first office-to-residential conversion in the fourth-generation family company’s history.

“We have residential experience, and we're very proud of our experience, but this is a different type of product," Rudin said on the show. “Conversion is a different animal, and I think that's one of the reasons why we have the seat at the table to understand and see what it is to undertake these types of projects, and who knows what happens down the road."

Rudin was founded in 1925, and its portfolio spans millions of square feet of both residential and commercial space, with 30 buildings in total in New York. The office properties include 345 Park Ave., home to Blackstone’s headquarters, and Dock 72 in Brooklyn where WeWork is the anchor tenant.

Bisnow’s audio series, Bisnow Reports, examines every facet of the international commercial real estate industry — from the murky future of retail and office to real estate’s reckoning with diversity to the effects of climate change on the built world, and so much more. You can subscribe on iTunes, Spotify and Amazon Music, or click below to listen in your browser.