Edge financing may take time, Levine says

The New York Times interviewed Jeffrey Levine, president of Levine Builders, whose projects include the Edge in Williamsburg. Levine said financing is the biggest hurdle for developers right now, and Levine has had to withdraw from several projects, including one on the Fordham University campus, due to lack of financing. Phase I of the Edge is selling one or two units per week, Levine said, but financing for Phase II may take several years. The development has not reduced prices, Levine said, but acknowledged that he has helped buyers with their closing costs.