But, some developers say they are concerned about speculation, especially if the buyer does not plan to live in the community.

The buyer plans to renovate the home and resell it, he said.

The buyer, Michael Pascucci, who owns a local television station, plans to operate a golf course there.

Ms. Delaney said the buyers plan to renovate the restaurant in February, when it will be closed for two weeks.

He could not reveal what the buyers was planning for the building, however, any investment in the site is certain to bring jobs with it.

It would have been one thing if the lucky buyers had been planning to to build homeless shelters, health clinics, schools or other worthy projects.

The buyer planned to spend an additional $2 million to convert the building into a multi-tenant, Class A office and medical facility.

In these buildings the buyer is often planning to occupy one or more units, or otherwise alter the property for personal use.

The buyer plans to knock down the walls and make a home for his family.

Some older buyers are planning for their eventual retirement by buying urban condos now.