With dozens or even hundreds of individual owners how would a condominium ever be torn down? Does it go to the bitter end and get condemned before it could be torn down. There’s so much news about condos in poor condition and owners having to pay huge sums for repairs. What happens when the property just isn’t viable anymore. Does an investment firm just target a complex and start buying up units? How would you deal with owners that aren’t willing to sell? Some land that these old properties are on must be quite valuable.
Majeed Ekbal's Daily Blog 