Remember the story last winter about the Corcoran broker who, in addition to suing the developer of the Toy Factory Lofts in Downtown Brooklyn for leakage, was cursing the imminent rise of the Avalon Bay development next door? Now the development is no longer imminent—it’s happening—and the view from the southern lot line windows at the Toy Factory are disappearing faster than you can say “declining property values.” It appears that the loss of views had a negative impact on the broker’s ability to sell his apartment—it’s currently rented instead. Can you think of similar instances of entire buildings losing a wall of views?
When Condo Investments Go Bad [Brownstoner] GMAP