The Real Deal New York

Resenting the renters at troubled condos

New buyers grow anxious that lessees will drag down values

October 15, 2009 09:51AM
By Gabby Warshawer

The Forte in Fort Greene
The Forte in Fort Greene

From the October issue: Few buyers who bought fancy condos in the last few years could have
predicted that their building would end up as a poster child for the
failed real estate market in the city. But at some buildings that’s
exactly what’s happened. Satian Pengsathapon, who is 30 and works in the advertising industry,
purchased a unit in the Forté tower partly because he liked that the
well-known architecture firm FXFowle designed the building. And having
gone to school at the nearby Pratt Institute, he was also a fan of the
neighborhood, Fort Greene. “I haven’t had buyer’s remorse,” Pengsathapon said. “If anything, I wonder why people aren’t buying in this building.”

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