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Thursday, June 02, 2005

Tiny condos

The Crescent, the gleaming white three-story apartment complex that's a landmark in the booming Village of WestClay, has been sold to New York investors who are converting the units to condominiums.

That switch means the 186 rental apartment units are for sale, which opens a lower-priced avenue for buyers to get into the upscale 19th century-styled WestClay.

The ownership and concept changes for the former apartment buildings come as the Village of WestClay is on the verge of booming with hundreds of new high-value homes and two commercial districts.

A friend from California described moving into such a unit. Tiny former-apartment condos make more sense there, given California's ridiculous housing prices. They also make sense in New York City. I honestly don't know what kind of demand this company is expecting here, where single family homes can still be found in the county for below $150,000. There's a pretty narrow intersection of people who don't need much space but don't want to stay in an apartment.


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