When it comes to property, en-bloc deals are the sweet spot for developers. These properties are difficult to find, take a long time to complete and often cost a lot of money. If you’re interested in buying a unit in one of these properties, you need to know more about them.
en blocs are a windfall for developers
En blocs are a windfall for developers, as they can command prices of two to three times the purchase price. The en bloc process is difficult, however, and can be an arduous one. It is important to understand the risks associated with en blocs before buying a unit.
In 1999, a developer tried to sell off the entire development en bloc, but failed to do so due to a lack of consenting owners. Today, the price per unit en bloc is about $125 million to $128 million. Although this figure is 30 …