Forte Officially Goes Back to the Bank
So it goes: The Clarett Group has officially ceded control of the Forte condo. A deed transfer recorded last week for $42.3 million to Eurohypo bank means the lender now has control of 72 units in the building. According to the deed document, Clarett and Eurohypo struck the deal way back in April, but it…
So it goes: The Clarett Group has officially ceded control of the Forte condo. A deed transfer recorded last week for $42.3 million to Eurohypo bank means the lender now has control of 72 units in the building. According to the deed document, Clarett and Eurohypo struck the deal way back in April, but it didn’t close until a couple of weeks ago.
Clarett, Goldman Lose Control of Forté [Brownstoner] GMAP
230 Ashland Transfer [ACRIS]
The building looks like an office tower.
The layouts of the apartments are horrible. Did the architect ever think of furniture placement when the building was being designed?? The windows are impossible to clean from the outside, so what good is a view through dirty windows.
I frankly never found this building to be “that” ugly. Alright…i didn’t love it… but I’m “okay” with it.
It simply looks like something from a different city. I *am* rather nervous that the building was not very well insulated…but then, it wouldn’t be that much different than most the other buildings put up in the last years.
I just wish they’d open something decent downstairs on the ground floor. The Associated on Fulton was dismal years ago so it’s closure was no great loss when it comes down to it. People were going to Pathmark by the time it closed I think.
But we could use a midsized, smallish supermarket (along the lines of the overpriced Gourmet Garage…in that vein) on the ground floor of the Forte tower. I think it might get some business. It wouldn’t be that convenient for the eventual crush of people that will be living in the Toren and Fort Greene Avalon so I assume some large supermarket will be opened “over there”. No matter what, what’s-his-face really must-must open a supermarket since he ripped one down, along with all the other business that used to be on that stretch of Myrtle.
Looking down Fulton this weekend, I have to say the look of the Forte, Ratner’s new apartment building on DeKalb and a brick-coloured hi-rise in-between was quite surprising as a new view. I hadn’t quite noticed it before, and having been away for months, I suppose there was quite a bit of progress on the towers this summer.
I don’t think we’ll get to the level of the recent Sixth Avenue apartment hi-rise canyon but it does seem a little bit like that. The cluster of the Toren, the Fort Greene Avalon and the Oro are a bit odd and remind of the cluster, although on a smaller scale, of the buildings that all went up right next to each other at Carnegie Hall in the mid-80’s.
Or course, if “they” managed to get the BAM tower built AND, the or course the DAY (the Dream that is Atlantic Yards), would, no doubt, really overpower the community and put us in the shadow (literally) of skyscrapers.
They really need to think through urban planning…in a big, big way of course. One small example of the pitfalls of remaking the landscape: as it is now, all it takes is a regular breeze to create a severe wind effect on Hanson between “One Hanson”, the mall tower, the State Office building, etc…really can be hard to walk down there and you get grit in your eyes in the harsh, sometimes knock-you-over gusts, and when you progress up Hanson, the wind dies down becoming a slight breeze on Seven Corners.
It means current Forte’ owners will have to wait a few years/decades before they make a profit on their unit’s sale. Until then, enjoy the views, the culture, food, and the people of your new ‘hood. Welcome neighbors! 🙂
“What does this mean for current owners now living in the building? Anybody know?”
Shrinky;
Legally-speaking, nothing has changed for them. The condominium is a different legal entity, and has already been declared effective. All that has happened is that ownership of the unsold 72 units has passed from the developer to the mortgage-holder.
Practically-speaking, they are in for a rough ride. The new owner of the 72 units may decide to sell them at a deep discount, to get them off their book, OR, they may decide to rent them out. In the former case, they will see much or their equity wiped out. In the latter case, their ability to sell their unit may be severely impaired, as no bank will finance a condo in an association where a significant number are rented out.
It’s means they’re going to get to know their community a little better, shrinky.
***Bid half off peak comps***
What does this mean for current owners now living in the building? Anybody know?
“Not if you don’t live there”
B-O-O H-O-O…
“They have the golden arches, we have the golden arcs.”
Ha ha ha ha…that movie is classic. Don’t get me started on the barbershop and church scenes.
***Bid half off peak comps***
“Besides, you will spend more time looking out of your condo windows than looking at the building.”
Not if you don’t live there.