The Wall Street Journal: Paul Rahimian on the Future of Office-to-Residential Conversions

By Rebecca Picciotto and Lily Belle Poling | The Wall Street Journal | July 8, 2026

Parkview Financial CEO Paul Rahimian was recently featured in The Wall Street Journal, where he shared his perspective with reporters Rebecca Picciotto and Lily Belle Poling on how the collapse scare at the former Pfizer building conversion project in New York City could influence the future of office-to-residential redevelopment financing.

The article examines the growing challenges and risks associated with converting aging office buildings into residential properties, a trend that has gained momentum as cities seek solutions to housing shortages and changing workplace dynamics. While office-to-residential conversions continue to present compelling opportunities, recent events have reinforced the importance of careful due diligence, realistic budgeting, and disciplined underwriting.

Commenting on the potential impact the incident may have on lenders and investors, Rahimian noted:

“It’s going to make everyone a little bit more conservative. Maybe we do the easy ones, but let’s not do the super complex ones.”

His remarks reflect a broader shift in market sentiment as lenders evaluate the complexities of adaptive reuse projects and the unique structural, engineering, and construction risks they can present.

As an active lender in commercial real estate, Parkview Financial continues to monitor evolving market conditions and support experienced sponsors pursuing well-conceived development and repositioning opportunities across the country.

The full article, originally published by The Wall Street Journal, is available to subscribers here