The Bottom Line on Developer Abuses
The NY Times summarizes the bottom line of the abuses of the housing code by Brooklyn developers Mendel Brach and Moshe Oknin:
What all this has amounted to so far is a lot of losers and only one winner. The residents of Bedford Stuyvesant and Clinton Hill are stuck with two clusters of outsize buildings out of character with their surroundings. The owners of the 72 completed condominiums on Spencer Street are caught in an ugly limbo while the legal status of their buildings is worked out. Another 18 potential buyers are waiting to see if they will be able to close on their apartments or get their money back. And the developers? The closed sales to date on Spencer Street have totaled more than $25 million.
Under the Radar in Brooklyn [NY Times]
Feb 13, 2012 | 10:33 AM