Lack of Buyers Pushes Developer to Convert Luxury Condo Tower to Rental Property

By Anuradha Kher, Online News Editor New York–New York City’s multifamily market has been fairly buoyant through the downturn, but there has been a marked decrease in rents and a slowdown in the condominium market. Adjusting to these shifts, developer 119 Third Avenue Associates LLC has converted its for-sale luxury condo