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Midwood condos in a former rental building ask from $1M

The Venetian, purchased by Time Equities in 2014, is going from rentals to condos

Back in 2014, Time Equities bought a rental property on Avenue P in Midwood for $27 million, with the intent of turning the building’s 33 units into condos.

And now, two years later, the conversion process is close to being complete: A website for the project, dubbed the Venetian (no doubt a reference to the, um, ornate architecture), is now live, and a few units have hit the market, starting at (precisely) $1,013,240.

Those price points aren’t exactly low, but that’s not that unusual for Midwood, where the average price per square foot hovers around $500, and the median home price is just above $800,000, according to StreetEasy. And the apartments that are currently available are actually rather spacious, with walk-in closets, big kitchens, in-unit washer-dryers, and other nice touches.

Building amenities include exactly what you’d expect—a playroom, fitness center, 24-hour lobby and doorman, and private parking (though that’ll cost you extra).