Condo less than 50% filled - implications?

We're looking at a nice unit within a renovated condo (construction looks nice, though the renovated condo is about 2 years + old now), and though it seems like sales have picked up recently, they're still less than 50% full. I've just learned of this, and also learned that there's only one major bank that will approve loans for the condo due to their vacancy rate. Apart from having a harder time getting a loan (and less flexibility with rates), are there other issues I should be aware of if the condo still isn't more than 50% full? Any big risks I am taking down the road?