Crains: 65 central Brooklyn condos in or near financial distress
Started by alanhart
almost 17 years ago
Posts: 12397
Member since: Feb 2007
Discussion about
http://www.crainsnewyork.com/article/20090827/FREE/908279977 Sixty-five residential buildings in central Brooklyn are either financially troubled or on the verge of distress, according to a recent survey conducted by Democratic Assemblyman Hakeem Jeffries. These properties are market-rate residential buildings at least four stories high located in the neighborhoods of Fort Greene, Clinton Hill,... [more]
http://www.crainsnewyork.com/article/20090827/FREE/908279977
Sixty-five residential buildings in central Brooklyn are either financially troubled or on the verge of distress, according to a recent survey conducted by Democratic Assemblyman Hakeem Jeffries.
These properties are market-rate residential buildings at least four stories high located in the neighborhoods of Fort Greene, Clinton Hill, Prospect Heights, Crown Heights and Bedford–Stuyvesant. Many are luxury developments in different stages of completion. Some projects are completed and unoccupied, while others are stalled. Some of the projects’ developers are also defaulting on their construction loans, said Mr. Jeffries.
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Response by GraffitiGrammarian
almost 17 years ago
Posts: 687
Member since: Jul 2008
I wonder why the reporter doesn't say how many units in the 65 properties.
If they average 20 units in size that would be 1300 overall.
It's a sizeable number but not huge. But it could be way off... maybe the average is 50, not 20.
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Response by Fayek
almost 17 years ago
Posts: 269
Member since: Jul 2009
Alanhart
I have come across this article, but they fail to mention the developers names!
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Response by w67thstreet
almost 17 years ago
Posts: 9003
Member since: Dec 2008
Alan. These are the ones my friend called me about. They are quietly maketing the debt.
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Response by aboutready
almost 17 years ago
Posts: 16354
Member since: Oct 2007
gg, there were 85 recorded sales in the last year in Fort Greene. i haven't done any further searching, but i'd say that 1300 is quite large a number.
I wonder why the reporter doesn't say how many units in the 65 properties.
If they average 20 units in size that would be 1300 overall.
It's a sizeable number but not huge. But it could be way off... maybe the average is 50, not 20.
Alanhart
I have come across this article, but they fail to mention the developers names!
Alan. These are the ones my friend called me about. They are quietly maketing the debt.
gg, there were 85 recorded sales in the last year in Fort Greene. i haven't done any further searching, but i'd say that 1300 is quite large a number.
fyi!
http://curbed.com/archives/2009/08/28/survey_65_brooklyn_buildings_send_out_an_sos.php#reader_comments
mutombonyc
Wow.....What a GREAT find....thanks alot!