Quote:
Originally Posted by BVictor1
When it's a condo building, you really can't flip it for a profit like a rental.
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No, you make your profit selling every single unit, one at a time.
I don't think they're doing this looking to make a crazy profit by flipping the building. The downtown rental market is getting very saturated with new construction and rent growth will slow down or even reverse. That doesn't do much for your valuation.
The only reason they're doing rental is so that they don't create a whole new nest of NIMBYs before the South Tower is approved. After that, look for them to do a condo conversion on East Tower and/or West Tower.