The Real Deal New York

From the August issue: The national mega-builder Toll Brothers lost $93.7 million in the second quarter of 2008 and subsequently had part of its credit rating downgraded to junk status. Surprisingly, the bleeding was less than the market had expected. And, helping to slow the plunge was Toll Brothers’ City Living division and its projects in New York and the metro area, including in Williamsburg and Hoboken. In Williamsburg, the first tower at Northside Piers on the waterfront has begun occupancy with three-quarters of its 180 units pre-sold. Now, having just broken ground, the second tower at Northside Piers will open for pre-construction sales next month.