The Real Deal has a story about how the long-stalled development at 340 Court Street is “in doubt” because its developer, The Clarett Group, has shut down its New York office and the firm’s founder has left the firm. Sources told the mag that 340 Court’s future is “unclear,” while its architect said “the project was in ‘transition’ and details would be coming soon.” Clarett’s plans for 340 Court, which was dubbed “The Collection at Court Street,” involved the construction of townhouses and condos. Speculation about whether the company had financing for the development has been in the air for quite awhile.
Clarett Shutters NY Office, Future in Doubt [TRD]