Editor's note: In this three-part special report, Inman News examines the challenges and rewards of pursuing property conversions in today's market, a case study of conversion-frenzy-gone-wrong, and marketing techniques developers and agents use to sell these properties. (Read Part 1, "Changing building's use presents challenges and rewards," and Part 2, "Speculation in condo conversions: South Florida's cautionary tale.") "Historic." "Authentic." "Grand." "Elegant." Adjectives such as these are common in the marketing of conversion projects, which swim upstream against the tide of demand for newly constructed buildings. Marketers often refer to a property's past history as, for example, a jewel in a turn-of-the-century industrialist's crown, selling history as well as space. History...
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