From left: 360 Smith Street, 73 Pineapple Street, 303 East 51st Street, Beekman Tower and 189 Schermerhorn Street

From the February issue:Hundreds of dormant construction sites still dot the city, but a
handful of these beleaguered projects are finally seeing new life –
even if it’s not what was once dreamed of for the location. Those that
have seen some type of resolution were able to do so by selling off
their debt at steep discounts, slimming their construction costs or
setting their sights way lower.
This month, The Real Deal tracked down 20 stalled projects
that have seen some type of resolution within the past several months
(see chart after the jump).  [more] [more]

According to new figures from the city’s Department of Buildings, Williamsburg has 18 stalled construction sites, more than any other neighborhood in the city. On this week’s Webcast, The Real Deal’s Jen Benepe checked out some of those sites and found others that weren’t on the list. Developer Kalmon Dolgin Affiliates, whose company had begun construction and did the foundation work on a planned six-story rental at 510 Driggs Avenue, is now instead building a parking lot. “We thought it was best to fold the project ahead of what we foresaw to be economic turmoil,” he told The Real Deal. David Maundrell, president of Aptsandlofts.com, said if a fully finished building is next to a vacant lot it is undoubtedly “affected negatively.” To watch the full Webcast click on the video above. Comments

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