Broken Angel is Officially Broke
It’s been a long, sad road for the Broken Angel building, and now The Real Deal is reporting a foreclosure auction has been set for “Clinton Hill’s most famous private home.” PropertyShark listed a lien of $2,663,376 for the building itself and the lot next door. The owner, Arthur Wood, continues to live there. A…
It’s been a long, sad road for the Broken Angel building, and now The Real Deal is reporting a foreclosure auction has been set for “Clinton Hill’s most famous private home.” PropertyShark listed a lien of $2,663,376 for the building itself and the lot next door. The owner, Arthur Wood, continues to live there. A fire destroyed parts of the building in 2006 and it’s been under foreclosure pressure before. Broken Angel went on the market for $4 million in 2009 but there were no offers. The auction is set for March 29th. More details from Property Shark after the jump.
Famed Angel House Could Finally Meet Its End [The Real Deal]
MM – I didnt “Damn” him or call him a low down dirty crook.
There is a huge space between dirty crook and visionary – all I ever criticized was his basking in the light of visionary, at a time when by all practical analysis his project (creating an ‘artistic’ condo with community space and utilizing the Broken Angel structure) was not feasible.
I never thought or said he was dishonest or unethical – if that turns out to be the case I certainly wont be able to say “I told you so” – cause I never predicted that.
I’m not taking the bait on AY/Ratner today 🙂
MM Looks like I was beaten to the punch by run-joe. Anderson didnt “put his money where his mouth is” – he put borrowed (at unfavorable terms) money where his mouth was, took as much credit and press as he could claiming to be a savior and the sole “responsible developer” around; and then when the reality of the situation became clear (and I’ll grant the market collapsed) he abandoned it.
incidentally I don’t think I was being “mean spirited” – I certainly wasn’t hoping for him (or anyone else) to fail – but the futility of developing the site (as some artistic condo project) was clear from the beginning and its fair to point that out when people around here continue to promote pie-in-the-sky development ideas as reasonable alternatives (i.e. see the biz incubator instead of Whole Foods discussion from yesterday)
As predicted….
Funy how we never hear from know it all Shahn Andersen anymore.