The Real Deal New York

From the June issue: While almost all developers in the city are feeling the impact of the recession, Staten Island developers — even one of the largest in the borough — have seen construction come to a virtual standstill. “You don’t want to say it’s come to a halt island-wide, but it’s as close to a halt as it can get,” said James Prendamano, a broker with Casandra Properties, a firm that represents high-profile developers and projects on Staten Island. Take St. George, which was on the short list of potentially up-and-coming neighborhoods because of its proximity to the Staten Island Ferry. A quick ride to Lower Manhattan made it inviting to luxury condo developers when the market was hot.