65 Brooklyn developments in financial trouble

Sixty-five newly developed condos in some of Brooklyn’s most popular neighborhoods are either in distress or close to it, according to a report from Democratic Assembly member Hakeem Jeffries’ office. The troubled properties run the gamut, from completed properties to ones still under construction or stalled. Jeffries studied the five neighborhoods in his district, Fort Greene, Clinton Hill, Prospect Heights, Crown Heights and Bedford-Stuyvesant, in an effort to advocate for enhanced affordable housing in his district. “There was an irrational exuberance of construction in the area these past few years,” Jeffries said, in reference to the glut of new properties in the borough.