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Two Condo Conversion Opportunities for the Optimists

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Here's a last-minute holiday gift suggestion: help a youngin' in your life get a foot in the door as a real estate developer (because nothing says Christmas like condo glut!). For those whose gift exchanges are capped on the lower side, say, $6 million (remember to take off the price tag and they'll never know), there's 55 Ludlow Street, a condo conversion opportunity with "great bones" for five full-floor lofts, ground-floor retail space, and a potential "pop up penthouse" on top. Delivered looking like the above photo, but hey, nothing a little paint can't spruce up, right? And for those who like their holiday giving to be a bit more extravagant, there's a mysterious six-story office building by Madison Square Park on Fifth Avenue asking $16 million that comes with a permit for a 20-story condo. Perks include proximity to the Shake Shack, though soon enough that won't be much to brag about.
· Listing: 55 Ludlow Street [Bond]
· Listing: 0 Fifth Avenue [Bond]