The Condo Conversion Craze

New data suggest that condo converters are buying apartments with near-religious fervor. The Slatin Report rundowns the top 20 markets.

1 minute read

December 2, 2005, 1:00 PM PST

By Chris Steins @planetizen

"According to data from New York-based Real Capital Analytics, sales to converters have already more than doubled in 2005 over all of 2004, rising from $11.6 billion, for 75,000 units, to $23.9 billion for 152,000 units.

...The richest conversion market: Manhattan, where investors have plunked down $3 billion for 5,700 units this year. Price per unit? It's a 501% increase over 2004, when converters paid $500 million for 1,460 units - roughly one-fifth as much for one third the number of apartments as this year."

Thanks to Peter Slatin

FULL STORY: Preaching to the converters

Wednesday, November 30, 2005 in The Slatin Report

Urban Development United States

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching. Mary G., Urban Planner

I love the variety of courses, many practical, and all richly illustrated. They have inspired many ideas that I've applied in practice, and in my own teaching.

Mary G., Urban Planner

Get top-rated, practical training

Start Learning

Advertise with us

Urban Design for Planners 1: Software Tools

This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.