Developers who rise from the dead

Why do some come back from bankruptcy while others get exiled to the lending desert?

Illustration by Noah Patrick Pfarr
Illustration by Noah Patrick Pfarr

From the November issue: Legendary real estate investor William Zeckendorf Sr. owned about as many buildings as he had suits in his wardrobe. And with a fluctuating girth — the famously stout tycoon was known for dropping as much as 40 pounds only to quickly regain it — his closet was lined with a lot of suits.

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In other words, his business fortunes yo-yoed the same way his weight did. [more]