Why weren't they snapped up immediately? For one thing, a purchaser must earn no more than $44,800, or $51,000 for a couple. For another, appreciation on the units is limited.
Still, "it's a fabulous opportunity for someone who's qualified," says Ann LaCivita of Reinhart, who's listed two of the condos. And if the sellers get their asking price, the affordable units will turn out to have been a better investment than the larger, full-priced condos in the complex--half a dozen of which are currently listed below their last sale prices (in some cases $50,000 to $70,000 below).
[Originally published in September, 2009.]