NEW YORK CITY-A developer, 481 Washington Street LLC has purchased an office building measuring 46,000 square feet at 481 Washington St. for $13 million. Now the company is working out plans as to what to do with the building.
Upgradation of the building is one option. The building once leased would yield a profit of $1.1 million per year. The other option would be to convert it into a condo that would give a profit of $10 million. For the full story, go to Wall Street Journal.
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