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

Wednesday, November 30, 2005 in The Slatin Report

View form second story inside Southdale Mall in Edina, Minnesota with escalators and model cars parked on downstairs floor.

The Mall Is Dead — Long Live the Mall

The American shopping mall may be closer to its original vision than ever.

March 21, 2024 - Governing

View of Austin, Texas skyline with river in foreground during morning golden hour.

The Paradox of American Housing

How the tension between housing as an asset and as an essential good keeps the supply inadequate and costs high.

March 26, 2024 - The Atlantic

Houston, Texas skyline.

Report: Las Vegas, Houston Top List of Least Affordable Cities

The report assesses the availability of affordable rental units for low-income households.

March 22, 2024 - Urban Edge

Aerial view of Anchorage, Alaska downtown with mountains in background at golden hour.

Anchorage Leaders Debate Zoning Reform Plan

Last year, the city produced the fewest new housing units in a decade.

March 28 - Anchorage Daily News

Young man in wheelchair crossing zebra crosswalk.

How to Protect Pedestrians With Disabilities

Public agencies don’t track traffic deaths and injuries involving disabled people, leaving a gap in data to guide safety interventions.

March 28 - Governing

Aerial view of mountain town of Steamboat Springs, Colorado in the winter with snow at dusk.

Colorado Town Fills Workforce Housing Need With ‘Dorm-Style’ Housing

Median rent in Steamboat Springs is $4,000 per month.

March 28 - CBS News

News from HUD User

HUD's Office of Policy Development and Research

Call for Speakers

Mpact Transit + Community

New Updates on PD&R Edge

HUD's Office of Policy Development and Research

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.

Planning for Universal Design

Learn the tools for implementing Universal Design in planning regulations.