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September State O' The Market: Small Buildings as Saviors?

It's that time again: as the calendar turns over into September, we pause to consider the big questions facing the city's real estate market. Last month, we wondered about projects coming back to life in Brooklyn and Manhattan. This month's hot-off-the-presses issue of The Real Deal has a piece of the answer in two articles about the types of projects that are coming back: condo conversions and smaller buildings with, at most, only a few dozen units. There have been 18 condo conversion plans submitted to the state so far this year, almost as many as in all of 2010. Even developers who aren't working with existing buildings are choosing to keep things small due to worries about financing and about just how many units they'll actually be able to sell. As we head into the busier fall sales season, some of the questions on our minds: are condo conversions as hot as developers think? Are small projects the secret to reviving the market?
· Conversion Diversion [Real Deal]
· Building with a new bent [Real Deal]