"Condominium conversion" refers to the process of transforming a rental property or an existing building into individual condominium units that can be sold to individual buyers.
Full definition
For those unwilling to sacrifice on location, small condominium units in new developments and
condominium conversions of rental buildings offer up the next best alternative.
(2.1) A declaration and description that would create a corporation for a
residential condominium conversion project shall not be registered unless the declaration contains confirmation from the registrar appointed under section 38 of the Protection for Owners and Purchasers of New Homes Act, 2017 that,
Ben Shaoul is in contract to sell Liberty Toye — an incomplete 81 -
unit condominium conversion project in the East Village — for around $ 85 million, sources told The Real Deal.
In 2013, the company announced it would be investing an additional $ 300 million
into condominium conversion at the site, called 10 Madison Square West.
(1st) 093282 - U, the plaintiff real estate developer sued defendants — an LLC property owner and its principal — for tortious interference with business relationship after a
planned condominium conversion tanked.
The low interest rate affliction that has crippled apartment fundamentals for several quarters is driving the
biggest condominium conversion boom in two decades.
Clarendon 1021: In partnership with The Carlyle Group, this 419 unit, 600,000 square
foot condominium conversion covered an entire city block.
Village officials feel that senior housing developments and
condominium conversions of apartment complexes during the 1990s, which has kept the older population staying in Arlington Heights longer and living off their retirement incomes, are among the reasons for this small gain.
In 2015, changes were made to the Ontario New Home Warranties Plan Act that would extend most new home warranty coverage to buyers of units in a residential
condominium conversion project.
Effective Jan. 1, 2018, warranties previously offered only on newly constructed buildings now apply to
residential condominium conversion projects (RCCPs)- for example warehouses or other types of industrial structures.
Kapp is the chief mover in
the condominium conversion of a 41 - unit courtyard apartment building at 2108 - 18 W. North Ave. and the rehab of the ramshackle four - story Elm Park Hotel right on Wicker Park itself.
As New York City's mayoral race draws to a close, candidates are vigorously jumping on an 11th hour issue: hospital closings and
condominium conversions.
Downtown Los Angeles, ablaze with apartment construction and
condominium conversions, is arguably an ideal place for mixed - use development — particularly because downtown is largely lacking in neighborhood retail.
It also means that Tarion will continue working on several ongoing initiatives and improvements to the warranty program, including a review of deposit protection coverage for freehold homes and extending warranty protections to
condominium conversions.
Aventine is
a condominium conversion development in BoytonBeach.
The Developers sought such a variance but their request was rejected, which effectively ended
their condominium conversion business.
In its first transaction, Apollo provided an $ 80 million whole loan commitment for
a condominium conversion in Tribeca.
Residential real estate transactions throughout Massachusetts including purchases, sales, refinancing and
condominium conversions.
Mitash Kripalani was instrumental in several multi-million-dollar multifamily and
condominium conversion projects, arranging investment sales across Florida, where more than $ 3.6 billion sales were registered last year.
He was instrumental in several multi-million-dollar multifamily and
condominium conversion projects, arranging investment sales across Florida, where sales in excess of $ 3.6 billion were registered last year.
Davlyn Investments, Inc. is a San Diego - based owner / operator of apartment communities,
condominium conversion projects and office buildings throughout California.
In addition to his work with Realtors, Michael is also one of Chicago's most valued advisers to developers of new - construction and
condominium conversion projects in the market.
However, bargains are easier to come by in a soft real estate market, when the economy is in a recession, and when homeowners, and builders and sponsors of
condominium conversions, are desperate to move unsold units.