SAN ANTONIO, TX-Alteza, the 147-unit residential condominium component topping the 1,000-room Grand Hyatt San Antonio is coming to market. Though 39 luxury condos have already been sold, the remaining 108 units are being offered as a single asset.

The condominium component topping the city’s convention hotel at 600 E. Market St. doesn’t come with an offering price. However, Joshua Shatz, principal with Custom Properties LLC of Dallas says the condos could attract an end market price of $400,000 per unit. “There is strong rental demand and even demand for condominiums, especially in the downtown area where Alteza is located,” says Shatz who is marketing the asset on behalf of FaulknerUSA and partners, which developed and owns the Grand Hyatt San Antonio and Alteza.

As there isn’t a whole lot of financing available to condo buyers, “these could work well as short-term, corporate rentals, but whoever bought it for that use would have to have a strong local presence or strong local management company to do this,” Shatz tells GlobeSt.com.

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