A New Jersey-based developer swooped in to purchase the property at 143-159 Classon Avenue, previously owned by the Community Preservation Corporation. CPC had an outstanding balance of around $17 million on the site and the buyers ended up paying less than that, according to The Real Deal. The Robert Scarano project broke ground in 2007, and according to TRD, “143 Classon Avenue [is] almost finished and 159 Classon Avenue requires significant construction work before receiving its final certificate of occupancy.” The developers expect to take over the title in the next three to six months.
NJ Investor Buys Clinton Hill Property out of Bankruptcy, Plans Condos [TRD]
Photo via TRD


What's Your Take? Leave a Comment