Developers abandoning condo deals. (cover story)

Item request has been placed! ×
Item request cannot be made. ×
loading   Processing Request
Read Online Read More Add to Saved list
  • Additional Information
    • Subject Terms:
      NEW York (N.Y.); NEW York (State)
    • Subject Terms:
      CHETRIT Group LLC
    • Abstract:
      The article reports that real estate developers are selling their condominium projects to hotel operators in New York city. In some cases, developers have tried to market their projects to condo buyers first but end up choosing to cash out quickly because of sluggish sales. Chetrit Group is repositioning its Empire Hotel. Though a handful of small condominium projects have already been converted into boutique hotels, the Empire shows that the trend is catching on with bigger developments