Buying in a condo conversion

bfgross: This topic hits a little too close to home for public discussion. Please email me if you would like to hear about our experience in this area. Just put my screen name in front of @gmail.com.

I am not tied to a condo conversion in any way IRL, so here goes:

1) Resale value is gonna be tied to how many units the sponsor has left to sell, what kind of exit strategy the sponsor has, how the sponsor financed the deal
2) how much is anyone going to be able to finance - obviously, the more owner-occupied units there are, the more financing options there are
3) Tension between tenants who chose not to buy and condo owners - often. If not always, they have different proorities going forwards
4) Whether the sponsor has cured the infrastructural deficiencies. Obviously much more difficult to cure going forwards, if not impossible, if sponsor does not or cannot cooperate