Vision Group developing Brooklyn condo project

Vision Real Estate Group, owned by Amir Yerushalmi, is developing the Greenpoint Lofts business condominium project in Greenpoint, Brooklyn, for $22 million. The project has 68 offices. Soaring rents in New York, where 95% of offices are rented, has resulted in a new trend of business condominiums, or commercial condominiums, in which offices can be purchased, rather than leased. A business condominium can be purchased for half the price of an apartment condominium, and real estate experts predict that the business condominium will become an increasingly important niche market in the coming years.