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November 11, 2008

Toll Brothers Making Less Money

northside-piers-1108.jpgToll Brothers reported its latest quarterly results this morning and they ain't pretty: Revenues at the country's largest high-end homebuilder fell 41%. Over at Toll's big Brooklyn project in Williamsburg, Northside Piers, 59 units are in contract and the company recently adopted a rent-to-own program to try to fill the place up.




Posted by Brownstoner at 10:42 AM | Comments (3)
Categories: Market

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Comments

Well duh! Can't imagine this is a surprise to anyone, including Toll.

Posted by: TownhouseLady at November 11, 2008 11:03 AM

Wah. Who cares. He should have put his profits in an overseas bank account and got out of the business when the signs first started showing a couple years ago. If Lehman wasn't too big to fail, neither is Toll. See you in bankruptcy court.

Still hoping someday my kids can buy a home of their own here in Williamsburg. Come on down, prices.

Posted by: williamsburgguy at November 11, 2008 12:31 PM

http://www.nytimes.com/2005/10/16/magazine/16brothers.html?pagewanted=all

Published: October 16, 2005

"Why can't real estate just have a boom like every other industry?" Toll asked in complaint. "Why do we have to have a bubble and then a pop?"

Posted by: SnarkSlope at November 11, 2008 4:19 PM

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