The Real Deal New York

From the May issue: In the depths of the recession, when it was easier to get a reservation at Per Se than to sell a multimillion-dollar apartment in New York City, stories abounded of real estate developers scrambling to cover their costs by leasing out unsold condo inventory. It wasn’t a perfect solution — it’s notoriously difficult to get buyer financing in a part-condo, part-rental building — and in most cases, the strategy was never intended to be permanent. Two years later, as many of those original leases expire and the market begins to reheat, some developers are once again ready to sell, reuniting these once-fractured condos. [more]