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John St. rentals convert to condos

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Nearly 800 rental units — formerly offices — on John Street in Lower
Manhattan are being converted to condominiums and are being marketed to
couples, families and residents from other neighborhoods. Rockrose
Development Corp. is transforming 442 rental units at 99 John Street to
condos, and Manhattan Capital LLC is converting 45 John Street, an
office building built in 1907, into 84 new condos. Units are selling
for $1,000 to $1,100 per square foot and about half have sold. The 147
units at the South Star at 80 John Street are 85 percent sold at about
the same per-square-foot price range.

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