In wake of tragedy, Brooklyn condo a symbol of residential market woes

After the accidental death of a construction worker, Jose Palacios, in January 2008, at the condominium development at 525 Clinton Avenue between Fulton Street and Atlantic Avenue in Brooklyn’s Clinton Hill neighborhood, the building remains incomplete and faces foreclosure, with none of the units sold. The project was unpopular in the community from the start, WNYC reported, when the project developer Karnusa Equities tore down a home for mentally-disabled adults to make way for the condo. Four years later, TD Bank was deep into the foreclosure process at the spot, which has become a symbol for the troubled New York City residential market.