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The exception is someone who is doing the conversion for heirs, who will have a longer time horizon.
The condos run about 60percentt less than for comparable space in Manhattan, according to the Robert Martin Company, the developer doing the conversion.
The Cheshire Group is doing the conversion, and Susan Hewitt, the president, declined to discuss how the venerable Rhinelander name was found wanting.
Douglas Jemal, the head of Douglas Development, which is doing the conversion of the building universally known as Woodie's, said the city was trying to recapture some of the sales lost to suburban malls.
By doing the conversion this way, the conversion becomes rather slow.
And watch out for administrative foul-ups: Make sure the institution where you are doing the conversion does not withhold income tax.
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-How long does the conversion process take?
"The only difference is that I might do the conversion interview over the phone," he said.
However, I don't want to do the conversion and postgraduate courses.
When you do the conversion, you must pay income tax on the amount you are converting.
The division plans to do the conversion work itself, said a spokeswoman, Karen McDowell.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com