Survey shows 601 troubled condos in the city, Downtown Brooklyn worst off

Condos [email protected] and Forte make the list

New York /
Oct.October 28, 2009 03:56 PM

There are 601 condo buildings in just six neighborhoods across New York City that have either a substantial amount of vacant units or stalled construction activity, according to survey data from the New York chapter of the grassroots community organization Right to the City. This number is well above the 454 buildings originally reported by the Department of Buildings for the entire city. The survey, which will be released next Tuesday at a rally in Downtown Brooklyn, found the highest concentration of troubled developments in Downtown Brooklyn, where 126 buildings are currently maintaining very high vacancies. It was not immediately clear how the organization defined a substantial amount of vacant units. The 246-unit [email protected] condo building, at 189 Schermerhorn Street, has a 93 percent vacancy rate, and the 108-unit Forté condo, at 230 Ashland Place, has a vacancy rate of more than 60 percent, according to the survey. The report will also include data on troubled developments in the South Bronx, Bushwick, Harlem, the Lower East Side and the West Village. “We want to show the city how big the problem is,” David Dodge, a member of Right to the City’s New York chapter, said. “The problem is larger than people knew and the city took count of.”


Related Articles

arrow_forward_ios
(Image by Wolfgang & Hite via Dezeen)
Hudson Yards megadevelopment inspires a new line of sex toys
Hudson Yards megadevelopment inspires a new line of sex toys
Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Ruby Schron lands $500M refi for sprawling Queens apartment portfolio
Wendy Silverstein (Credit: Getty Images)
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Wendy Silverstein, co-head of WeWork’s real-estate fund, is out
Central Queens Academy's Ashish Kapadia and United's Chris Jiashu Xu with a rendering of 88-08 Justice Avenue (Linkedin, iStock)
Charter school takes 85K sf in Queens condo building
Charter school takes 85K sf in Queens condo building
(IStock illustration by Kevin Rebong)
Smaller cities look to cash in on shift to remote work
Smaller cities look to cash in on shift to remote work
Barry Sternlicht (Getty, Starwood, iStock)
Starwood Property Trust’s Q4 earnings fall 38%
Starwood Property Trust’s Q4 earnings fall 38%
Greta Guggenheim (Getty)
TPG RE Finance CEO Greta Guggenheim stepping down
TPG RE Finance CEO Greta Guggenheim stepping down
(Getty, iStock)
Victoria’s Secret may close 50 stores this year
Victoria’s Secret may close 50 stores this year
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...