Would it be that bad to convert a bunch of offices into dorms style residences with shared bathrooms, kitchens etc? These aren't ideal living conditions, but IMO it would accomplish a lot on the housing front - it would offer young people fresh out of college/high school the opportunity to live in New York at relatively low rent, reduce the strain on housing for older people.

Because of our inability to build new housing in this city, 25 year olds crowding in 4 at a time into 2 bedroom apartments is really taking a toll on affordability for older people that might want more space, want to grow families, have families, etc.