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Conversions of the Future

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Yet another rental building is headed for a condo conversion. The 229-unit Axton building at 95th Street and Amsterdam Avenue sold for $231.5 million to a company with ties to the Sackett Corporation, and will house the same number of apartments even after the makeover. Though there are protections for existing tenants, many worry that they will get kicked out. The neighborhood's City Council member, Gale Brewer, is not happy: "I am concerned. It is a real loss off affordable housing and rental units." [TRD]