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More condo developers are welcoming renters — at $20K+ a month

 As Manhattan’s luxury condo market settles into an extended slump, more developers are coming around to the idea of renting out their unsold units, both as a marketing tactic and a way to wait out the crunch. But it’s not for everyone. Because condo developments are generally funded with debt that is meant to be paid off quickly as units sell, the amount of rent a developer would need to charge to cover debt obligations


The Real Deal New York

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