Downtown Shocker: Catsimatidis Puts Myrtle Build on Hold!
Buried deep in this week’s New York Magazine cover story entitled “The Stench of ’89” is this bombshell: Billionaire and likely mayoral candidate John Catsimatidis, whose Red Apple Group is developing a two-block complex on Myrtle Avenue in Brooklyn, is putting the brakes on the project until the lending situation shakes itself out. Holy moly!…
Buried deep in this week’s New York Magazine cover story entitled “The Stench of ’89” is this bombshell:
Billionaire and likely mayoral candidate John Catsimatidis, whose Red Apple Group is developing a two-block complex on Myrtle Avenue in Brooklyn, is putting the brakes on the project until the lending situation shakes itself out.
Holy moly! At least the two neighboring projects—BFC’s condo project at 150 Myrtle and Avalon Bay’s rental development at 157 Myrtle—appear to be proceeding at full speed. Think there will be other announcements like this in the Downtown area in the coming weeks?
The Stench of ’89 [New York Magazine]
So, Rea Apple Group, which owns the Gristedes chain, tore down the existing supermarket?
Interesting.
12:44 is definately an ASSWIPE.
HYSTERIA…hysteria is not the word to use when you think about what this developer, with the blessing of the city and a few shady politicians have done to the local services of hundreds of people. PEOPLE DAMMIT
12:29,12:44 = developer’s asswipes!
Well 12:29 actually raises an interesting point…despite what the article says and despite the hysteria on this thread….the key question is IS WORK STILL GOING ON AT THE SITE? Is there anyone who lives close to the site who can confirm whether or not work is being done? I have not been by there for a couple weeks, but I could have sworn that excavation was moving forward (albeit slowly).
Story is incorrect – financing has been secured
This is a flipping tactic. Mark my words people. He probably has already sold this site to another developer.
Whoever is representing those poor people in the projects should be thrown out of office and placed in jail. How did the city allow a billionaire to eliminate all the essential services like easy access to food, medicine, laundry, and sidewalk space? Now, he gets to decide when he will restore those services. If I had a lawyer and he did not represent me properly and I lost my case based on his/her incompetence, I would be able to sue for malpractice. What is the charge against a incompetant politician? Do anyone know their names? PLEASE POST THEIR NAMES AND OFFICE NUMBERS.
Is this how he’ll conduct business for the city if elected mayor? How long will I have to live around the corner from this blight? There should be penalties for demolishing perfectly viable businesses without rebuilding.