Shuttered assisted-living facility plans conversion to condos

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Todd
Todd
2 years ago

As much as wanting to deliver a below market product might make the developer feel good, it is plain foolish. Buyers will just see a bargain, buy the product, and resell it at a profit, the same profit that the developer should have claimed for himself. Below-market products also create risk and could make the development unstable. The only fair and true way to sell a product is at fair market price.

Drea
Drea
2 years ago
Reply to  Todd

It’s actually not a below market product, with a price of well over $500 psf. They’re just really small, and it’s a unique niche for this developer. Trust me, they’ll be making a profit.