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Shahn Andersen better wear a disguise to the next meeting of the Secret Society of Brooklyn Developers after he’s appeared in print flying the DDDB colors! Other than displaying Shahn’s choice in t-shirts, the Real Deal article that just came out on the Broken Angel conversion also provides some interesting deets on the economics of the project. Shahn is quoted as saying that he expects to spend about $3 million to renovate the existing structure and build from the ground up on the vacant lot. As for his deal with Woods? The pair will split the profits 50-50. “[Wood] is going to come out ahead,” Shahn says.
Broken Angel Goes Condo in Changing Clinton Hill [The Real Deal]
Photo courtesy of The Real Deal


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  1. If you had seen your building before I took it over “How Much Money 7:51 PM” then you would really know what destruction is. The previous owners had intentionally let the building fall apart hoping that those same “poor” tenants would move out because things were so bad.

    Most of those “poor” tenants you are referring to have worked for years in civil service and now have substantial pensions and retirement accounts that give them more of a means to purchase their apartment than you think. Do not immediately assume that because someone is older and black that they are “poor”. Furthermore, I have had private discussions with most them about the possibility of them buying their units at a significant discount so that they can take ownership of their home in a way that they were never able to as renters. If you had the foresight to further explore what I am offering each tenant in the building rather than attacking it, you would find that there is a real opportunity here for everyone.

    It is tenants like yourself that bitch and complain regardless of what I do, even when I bend my own rules and let you do things explicitly restricted in your lease, that have made me not want to be a landlord anymore. Rather than sell the building outright, I am offering each tenant the opportunity to take ownership of where they live. That is the epidemy of good development in my book, not destruction.

  2. hmm. shahn’s kicking people out of his building so he can turn it into condos. these tenants would have to earn at least quadruple of what they do now to be able to buy their units, at the price they’re selling. and that’s the tenants who pay market rate and won’t find it so hard to find a new place to rent. what about the very poor who live there? i guess poor people will never be able to live in peace.

    how is that not destroying?

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