Development Watch: Acadia Starts Albee Demo

What – please not you too with the CDO and loan write down histeria. first of all, much of these amounts are estimates and overly conservative ones assuming worse case scenarios for hard to value currently illiquid assets. to the extent banks actually take all the predicted write downs, a portion will likely be revised in a kinder fashion later in time once actual losses are realized, although admittedly any upward revisions probably won’t be too large. but much more importantly, these numbers are minimal %-wise when looking at the aggregate amount of capital held by the big banks. and yes, creidt is tight now, and bad loans are getting written down, but same story goes – conservative estimates and predictions, and small numbers %-wise. 2-3 years of consecutive record earnings followed by a few less than stellar Qs is not going to cause the apocalypse you are preaching.

and i don’t disagree that the US real estate bubble has popped, and done so with a bang. my position that development in downtown bk is currently sustainable bears no relation to the national real estate downturn. big time developers will still get their funding in times of tight credit, and will take the opportunities in downtown bk even in a generally tough real estate climate b/c the fundamentals are strong for long term value in downtown bk. real estate developers and banks don’t put up a sign and go sailing for 2 years when the market gets tough, they just get more picky.

5:44;

Willoughby Sq. Park is one of the planned areas offering additional greenspace

We’re not all NIMBYs in Brooklyn. I like this building(s) and the one from yesterday (City Tech) even though that one I guess is an old rendering over a year old.

So, Monsieur Le What, I guess you’re saying these buildings won’t all go up on Flatbush?

I hope not. They’re not terrible sustainable in the long run.

Thanks for making a recent effort with your writing style!

Cheers,
FG/TheGrammarLady