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Why can’t you buy a condominium?

Posted by GCAR on April 17, 2019
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Looking to rent an apartment? The choices seem endless, with projects underway or completed in the Capital Region’s cities and suburbs.

How about a downtown condominium? Good luck.

From the outside, it would be difficult to tell an apartment from a condo. But for downsizing baby boomers, in particular, the difference is significant.

A typical experience is that of Steve and Mary Muller of Troy. A few years ago they decided to downsize and sold the home they had renovated in the Washington Park neighborhood. They were disappointed, however, that in the midst of a boom in multifamily construction in Troy, all of the projects are rental apartments, not condos.