Low ceiling basement in sq footage

I am curious: as someone who is specifically looking for properties like this to buy, renovate and then sell, what would you pay for this?

Not my cup tea to dig out the basement to get to the listed square footage. Still would be missing windows in the front.

Where do you think it will sell?

As you know, digging the basement in an occupied condo is very different from digging the basement when you own the townhouse.

It didn't sell last year when it was asking $1,749,000 so given the state of the market I can't imagine it selling anywhere near the current ask.

How do you get away with adding such low ceiling height in the condo offering plan? I would have thought any square footage has to meet the code. Any condo offering plan legal experts on the board?