Commercial Sales in Brooklyn

they'll not be making any cash out of the Borinquen place unless they evict everyone. odd purchase.

Posted by: guest at March 28, 2008 11:44 AM

I see the nazi neighborhood police have you intimidated .... "4TH AVENUE, GOWANUS SIDE "

Posted by: guest at March 28, 2008 11:55 AM

Dermot also purchase 145 Borinquen Pl ("Triangulum") accross the street from Treetopdev for $8M.

Posted by: guest at March 28, 2008 12:00 PM

This is so odd. It says people have posted here, but I don't see anything. Could it be the light type?

Posted by: guest at March 28, 2008 12:41 PM

438 4th Avenue was pricechopped from $9.75 million to $4,050,000? Interesting.

Posted by: guest at March 28, 2008 1:14 PM

it was not pricechopped- it was being marketed before they had closed on it

Posted by: guest at March 28, 2008 1:43 PM

they just started construction on that 4th ave site so i guess they are building after all

Posted by: guest at March 28, 2008 1:44 PM

Dermot will harass and screw with the tenants, take them to court on frivolous charges, and intimidate them to leave, so the new owners can goto market rate and turn huge profits. It's typical - spend a few years kicking people out, invest lots of money in legal fees, then make ridiculous profits after that initial investment.

Posted by: guest at March 28, 2008 3:18 PM

why should dermot be different than anyone else?

Posted by: guest at March 28, 2008 3:49 PM

Listed at $9.75 million.

Sold for $4.05 million.

Walks like a pricechop.

Quacks like a pricechop.

Posted by: guest at March 28, 2008 4:20 PM

Well Dermot have got their work cut out.

I doubt the cuyrrent rent roll even pays the super's salary!

Posted by: guest at March 28, 2008 4:32 PM

if you read the post, the public records only covered two of the three lots that are part of the development. the largest of the three lots did not hit the public records yet. anyways, according to massay, the listing was put up while the guy had it in contract so this is just showing what he closed on part of the property for. looks like they started construction anyways so its a moot point.

Posted by: guest at March 28, 2008 6:58 PM

dermot are a bunch of slumlords

Posted by: guest at March 28, 2008 11:02 PM

dermot picked up 145 borinquen place from treetop, who gave up the place after renovating it (i think it was one of their only rental properties anyway).

145 borinquen (the "triangulum") is essentially a lemon. treetop did a nice renovation job, but "lucky seven," the restaurant/nightclub downstairs is a total blight on the neighborhood and treetop gave up after they apparently couldn't litigate the place to death. the first four floors of the building are essentially unlivable, as they become encased in the inescapable sounds of reggaeton blasted from lucky seven from 12-5am, at least 3 nights a week. the second floor apartments in particular have turned over no less than 3 times since treetop opened the renovated units last june. unless dermot can successfully litigate lucky seven out of there (according to treetop they never paid their rent, and apparently stole their electricity, so i suppose it's a matter of time), dermot won't have much success marketing this as a luxury development.

Posted by: guest at April 7, 2008 9:08 AM