Fischer building in Williamsburg faces possible foreclosure

September 08, 2011 09:05AM


Architect Karl Fischer and the Continental at 185 South 4th Street

Capital One bank filed an early foreclosure notice for $18.6 million against the Karl Fischer-designed Continental building at 185 South 4th Street in Williamsburg Aug. 29, Curbed reported. Developed by Brooklyn’s Isaac Hager, the project was originally planned as a condominium, but went to market as rentals in 2009. The 46-unit building has a gym, storage, laundry room, roof terrace and lounge, all of which were rare amenities in Williamsburg when the building launched. It even has a part-time doorman. There are currently two rental listings at the property, a one- and two-bedroom apartment for $2,750 and $3,750 respectively, according to data from Streeteasy.com. The Continental is not the only Fischer building to have found itself in financial trouble of late. The 12-story, 20-unit Fischer-designed building at 480 Humboldt Street, known as SkyHigh, found itself at a bankruptcy auction earlier this year. [Curbed]