Manhattan's Empty Condos May Become Rentals as Sales Lag

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June 4 (Bloomberg) -- About 8,700 new condos sit empty in Manhattan, with 75 percent not even listed for sale yet, according to appraiser Miller Samuel Inc. Miller is teaming up with Westwood Capital LLC and developer Gerald Guterman to raise as much as $1 billion to buy empty condos and manage them as rentals. Bloomberg's Monica Bertran reports. (Source: Bloomberg)


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