The Real Deal New York

From the April issue: The demand was there, the zoning allowed for it, and developers saw the lucrative opportunity to build out and market high-end residential projects in Downtown Brooklyn — perhaps too many developers. As of the end of last year, more than 14,000 new residential units were either in the pipeline or already under construction in the booming neighborhood. But as the last units of the neighborhood’s first wave of new condos look for buyers, buildings are having a tougher time selling. And with plans killed for developer Bruce Ratner’s City Tech Tower, which could have been Brooklyn’s tallest building and the city’s tallest residential tower, and other residential projects seeing delays or no activity after being approved, late bloomers may not stand a chance in a market where the appetite for condos could already be satiated.