Harmon eyes record $600m sale.After handling the sales of some of the year's biggest residential deals, including the dispositions of Macklowe's River Terrace and the Resnicks' The Gershwin in recent weeks, Eastdil's Doug Harmon will cap off the summer fittingly by tackling his biggest assignment yet, the sale of ultra-luxury residential rental building, The Langham. Bordering the park and with a storied past, the Manocherian family owned property has been eyed as the king of all potential condo conversions Generally stated, a condo conversion is a process of entitling an income property or other lands currently held under one title to convert from sole ownership of the entire property (which often already is a multi unit property) into individual for sale units. . It has been estimated that if converted, apartments in the building could fetch up to $15 million apiece a·piece adv. To or for each one; each: There is enough bread for everyone to have two slices apiece. [Middle English a pece : a, a; see a on average. The owners who convert won't have to look far for interested buyers either. Renters currently pay north of $30K per month, a chunk of dough just about on par with what gargantuan gar·gan·tu·an adj. Of immense size, volume, or capacity; gigantic. See Synonyms at enormous. gargantuan Adjective huge or enormous [after Gargantua, a giant in Rabelais' monthly mortgage payments would cost. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. some brokers, the building could grab up to $600 million, a figure that if achieved, would shatter shat·ter v. shat·tered, shat·ter·ing, shat·ters v.tr. 1. To cause to break or burst suddenly into pieces, as with a violent blow. 2. a. pricing records for a residential property. |
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