Condominiums conversions are back … in a few places. Developers are buying hundreds of millions of dollars’ worth of properties to convert to for-sale condominium housing, but only in a handful of cities. “Two-thirds of these conversion projects are in Manhattan,” says Ben Thypin Director of Market Analysis for Real Capital Analytics. Developers paid $1.1 billion for buildings that they converted into condominiums in 2013. That’s the highest volume of ...
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