Foreclosure Not Far Off At 364 Bedford Avenue
Another one bites the dust. Earlier this month, the Broadway Bank of Chicago filed a lis pendens (usually a signal that foreclosure proceedings are not far behind) on 364 Bedford Avenue in Williamsburg. The bank had financed the Karl Fischer-designed project with a loan of $6,200,000. 364 Bedford Avenue [Property Shark] GMAP Karl Fischer at…
Another one bites the dust. Earlier this month, the Broadway Bank of Chicago filed a lis pendens (usually a signal that foreclosure proceedings are not far behind) on 364 Bedford Avenue in Williamsburg. The bank had financed the Karl Fischer-designed project with a loan of $6,200,000.
364 Bedford Avenue [Property Shark] GMAP
Karl Fischer at 120 South 4th Street [Brownstoner]
Aw shucks. No more “luxury” condos for the neighborhood? Wow, this means all the others will shoot back up in price now that these won’t be available. Better buy now or be priced out forever.
welcome to miami
That site has been dead in the water for ages. And prior to construction, the site site dormant for ages too. A little local knowledge might have raised questions.
quite true dave. in fact, it’s common that regional bank problems/failures stem from those banks reaching out of their region for growth.
Seems that broadway Bank of Chicago went a bit too far out of their neighborhood!!!!
now, the real question here is whether this will put downward pressure on park slope prices.