Work at 834 Sterling Place

Isn't it possible that some purchasers bought their apartments only as investments, and are renting them out until they sell?

We looked at the building earlier this summer, and at that time the developer said he was planning to keep a few units to rent out.  7 is more than "a few," but this would be in line with what he told us. 

I suspect the folks who are renting out their units are part of Hello Living's Owner's Club.

If I understand it correctly, you buy a unit for cash long before it is built. 

Few "regular people" have that kind of time or cash to invest for such a time period.   As a result, it sounds like an excellent investment for an LLC or REIT.

http://www.brownstoner.com/blog/2013/09/hello-living-pre-sells-apartments-at-one-of-its-plg-developments-still-under-construction/

Capt-
You could benefit by putting some of your cash into a REIT.   They are not that expensive.

While this ad says the building is in Greenpoint, it actually advertises units at Hello Sterling in Crown Heights: http://www.elliman.com/new-york-city/sterling-place-brooklyn-wvhyrdq

Apparently, there are still units for rent.    ...were some of the units purchases only to then be offered for lease?