While the idea of spending $200,000 for an 1,100 sq ft condo conversion may sound ABSURD, apparently this market MAY be coming back. While I think it’s a stretch to consider a condo conversion a “new” property, many developers had success during the “boom”. This article does a great job of discussing the origin and adversity that affected the condo-conversion market over the past decade. Whether or not this business model will prove successful moving forward remains to be seen…...
