Concerns over rising office vacancy rates and falling office building property values in many urban areas have increased the pressure on cities and developers to consider converting underused office space to residential use. To aid in current and future conversations surrounding the feasibility of conversion, we look to the recent past. In doing so, we provide an account of conversion and redevelopment activity in New York City over the past decade to uncover associated structural and locational characteristics. We find that office-to-residential conversions contributed the greatest share of residential rental units of all non-residential conversions from 2010 to 2020, with nearly 5900 units created. However, there is suggestive evidence that more recent obsolete office buildings generate significantly fewer units as compared to office conversions of the 1990s. We additionally model the probability of conversion and redevelopment. We find that hotels have the highest conversion probability, followed by loft, retail, industrial, and office. In general, relatively taller, narrower, older buildings with diminished value are more likely to be converted.