From the June issue: Having transformed from blighted neighborhood to artists’ enclave,
Hunts Point in the South Bronx was poised to take the typical
four-decade route to gentrification that culminates in wine bars, Whole
Foods and an Apple store. But these are not typical times, as one
developer there has discovered. Taconic Investment Partners bought the
fortress-like American BankNote Building, a landmarked
400,000-square-foot, three-building commercial complex in Hunts Point,
for $35 million at the end of 2007, “in the good old days,” said
Taconic partner Douglas Winshall. [more]