"It's easier to put together public and private financing to preserve this housing than it is to build brand new units," Mr. Weinstein said.
Jacqueline Urgo, the president of the Marketing Directors in Manhattan, which is handling leasing or sales for about a dozen newer "luxury" buildings in northern New Jersey, said increasing numbers of people are finding brand-new units affordable with the price breaks and other enticements being offered.
"They said there would be brand-new units and a brand-new complex.
Of the first 10,000 units, roughly half will be brand-new units, said a spokeswoman for the city's Department of Housing Preservation and Development.
Mr. Gollinger, who conducted numerous auctions in Manhattan during the housing bust of the early 1990s and recently oversaw the one-day sale of $26 million worth of condos at the Folio building in Boston, said auctioning off brand-new units in a building where sales are just beginning was a first for him.
Creating a brand new ad unit is always a risk, especially when you are a newcomer.
"£4m has gone on this film, which could have gone to a brand new antenatal unit or Help for Heroes, but we spent it on this film".
Intel is forming a brand new business unit today, called Intel Federal, to 'better address new opportunities in working with the U.S. government.' The new subsidiary will focus exclusively on selling and advising on computing services in the government.
The improvement programme also included the construction of 1,045 brand new accommodation units, making it the largest timber-frame construction project in Europe that year.
Volkswagen also said it would reorganize its various brands into new units, with the luxury brands Audi, Bentley, Bugatti and Lamborghini in one group and VW, Seat and Skoda brands in another.
