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To Spur Sales During Luxury Market Lulls, Developers Adopt Rent-to-Own Programs

The Lower East Side condos at One Manhattan Square are providing people with a unique path to homeownership: rent one of the building’s residences now and purchase it later. The rent-to-buy program first rolled out in 2019, and now, select residences offer potential owners one-year rental contracts. Fortunately, the luxury homes are anything but a hard sell: “Most of the people see the value in this and they do opt in and move forward,” says Christina Medina, One Manhattan Square’s director of sales.

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The complete offering terms are in an offering plan available from Sponsor. File No. CD15-0185. Sponsor: CPS Fee Company, LLC. 805 Third Avenue, Seventh Floor, New York, NY 10022. Sponsor reserves the right to make changes in accordance with the terms of the Offering Plan. Equal Housing Opportunity.