Assembyman Hakeem Jeffries: 65 Brooklyn Condo Developments In Or Near Financial Distress

Crain's New York Business:

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.

Read the whole story: Crain's New York Business

Comments

[NexusP]

Prices has gotten increasingly ridiculous as hard working people can not afford housing in descent neighborhoods. Maybe this will help to balance the housing cost to pay ratio.

[bzb]

Great at least these buildings will be offered as affordable housing and wont' stand vacant and become eyesores in the community once vandals get a hold of them.