Back to R.E. discussions.

They need to bring back the 421-a tax abatements to get construction moving again http://www.observer.com/2011/real-estate/lesson-need-421

We really expecting politicians to understand basic economics?

The same politicians who think rent stabilization lowers rents?

somewhereelse,

Do you think all stalled projects will eventually be complete?

Do you think all stalled projects will eventually be complete?

Usually not. I remember stalled projects years ago all over the place. Nevada Plaza at 70th & Bwy stalled half built, declared bankruptcy and sold to another investor. That sat for a good three years. The ones who might survive are the ones that did not break ground. The rest could lose all and face it, now is not the time to sell that kind of property. Back then as now I have always felt sorry for persons that have to live in a neighborhood facing that every single day. The only hope I can see is the 421 A tax abatement as mentioned by harlembuyer. If the politicians were on top of this, they would perhaps come up with some new kind of abatement to get thing rolling.