Assemblyman Targets 65 Brooklyn Condos for Affordable Housing, Homeless Shelters
That's what Jeffries wants for these ghostlike, towering condos...
According to Crain's the list of properties includes a number of high-profile new developments, such as the glass-wrapped, 30-unit condo at 525 Clinton Avenue, dubbed The Collection, and The Isabella (pictured), a 63-unit block at 545 Washington Avenue in Clinton Hill (which happens to be right near a homeless shelter and a methadone clinic). Both developments are completed but unoccupied, according to the survey. There are 10 active listings at the Isabella, according to Streeteasy.com, while there are no sales listings at The Collection.
Developers of both buildings are in early stages of being foreclosed upon by their lenders, says Jeffries.
Apartment sales in those Brooklyn neighborhoods have dropped 42 percent compared to the same quarter last year.