Tag: affordable housing
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Pfizer Sells, But Not to Local Groups
Pfizer has sent a letter notifying Community Board 1 that they have reached an agreement to sell the last remaining large parcels of land from the drug giant’s ancestral home. The agreement is with a group called 306 Rutledge Street II LLC, a “company acting on behalf of investors who have deep roots in the…
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77 Commercial Street Sells
According to the Real Deal, Manhattan-based Chetrit Group has purchased the 95,000 sf warehouse at 77 Commercial Street in Greenpoint. The property is one of the northernmost waterfront parcels that were rezoned to residential in the 2005 rezoning, and the potential development on the site could in a big, bigger or biggest development scenario. It…
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CPCR Donated Over $100k to Local Supporters
According to the Brooklyn Paper, Community Preservation Corporation Resources, the for-profit developer leading the effort to redevelop the Domino Sugar site, paid out at least $100,000 to local groups over a two-year period. The neighborhood groups, which include El Puente, Los Sures, and Keren Ezer, received $10,000 each. (A fourth neighborhood group – Churches United…
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Domino Fight Turns Sour
http://online.wsj.com/article/SB10001424052702303816504577303963037005318.html?mod=googlenews_wsj
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Domino is Not For Sale
http://www.brooklynpaper.com/stories/35/13/dtg_dominosale_2012_03_30_2012_bk.html
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Things Get Worse at Domino
Crain’s reports this morning that the partners in the Domino project are in court, with Isaac Katan, the long-silent partner in the deal, alleging mismanagement, “misdirection and inaction” on the part of CPC Resources. According to Katan, CPCR has nothing to show for the over $100 million in equity and financing that the project has…
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Lured by Profits
Charles Bagli has an in-depth piece in today’s Times on the fall of Community Preservation Corp. There is not much in here that I hadn’t been hearing in bits and pieces over the past few months, but still, seeing it all together is jus incredible. Real estate deals like Domino (though Domino is far from…
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Domino for Sale
In news that should surprise no one (but is surprising nonetheless), the Observer reports that the Domino site is on the block. Apparently, the Katan Group and their development partner CPC Resources have been shopping all or part of it to potential buyers. A spokesman for CPCR told the Observer: We are pursuing various options…