Last year alone, we had 5,500 applications for condo conversions in Jersey City.

With little room for new building, developers are turning to older properties for condo conversions.

In the process of condo conversion, landlords now pay certain tenants to vacate their apartments.

However, for condo conversion - which is expected to gross the landlords $5.5 million - it made sense.

They are really selling because they see an opportunity to cash in on condo conversions now.

By this June, with the returns to landlords improving, condo conversions fell to 3,400 units.

But now I have no desire to walk down streets of condo conversions.

They believed the landlord wanted to empty the 55-unit building and pursue a lucrative condo conversion.

A condo conversion was one way to go.

Market analysts expect more condo conversions in 2006, though not at the same frenetic pace as this year.