Distress Signals in Williamsburg
“Distress Sale for Owner, but for you, Developer\Investor, Profit, Profit, Profit!!” Such is the glass-half-full verbiage in the listing for 191-193 Johnson Avenue in Greenpoint East Williamsburg, where the developer has run out of options. (The developer has unpaid fines owed to DOB.) The price tag on the 16-unit new building? $4,200,000. That’s an average of $262,500 per unit. Sound reasonable?
Feb 13, 2012 | 10:33 AM