NEW YORK-The Apthorp is being converted from rental apartments into condominiums. In May, the New York attorney general's office approved the plan and in July, the debt on the property was restructured by Apthorp's developers headed by Africa Israel USA and Anglo Irish Bank, the lender.
Out of the 163 units in the building, only 20 have been sold while buyers have signed contracts for 16 units, but not finalized the deals yet. For the full story, go to Wall Street Journal.
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