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Union Square Rental Building Sells for $17M, Will Go Condo

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Unlike other upcoming condo conversions we've mentioned lately, 9 East 16th Street should have a relatively easy time of it. The Union Square-area, Louis Korn-designed building has only market-rate tenants, the Post explains, who'll leave once their leases are up, making way for the just-announced conversion of around 15 units by BCN Development, which just purchased the building for $17 million.

A press release fills in a few more deets: work on the conversion will likely start at the end of the summer or in early fall, and the result will be one-, two-, and three-bedroom condos. No word on pricing yet, but the going condo conversion rate is high.
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