Forte Condo Belly Up?

Stopped by the Forte Condo in Fort Greene yesterday. The place was wrapped in construction netting. Went in and asked to see the sales office and the guard told me the sales office had been closed for a month.
A check on the Internet brought up some information that the project reverted back to the lender.
If true, this is an important sign that Bklyn real estate is starting a major correction.
The Forte was a project of the Claret Group, an experienced major developer in NYC. If they are walking away, it is not a good sign.

By DeadCatBounce |