Developer Default Leaves Brooklyn, New York's Tallest Building On Foreclosure List [Yahoo! Finance]
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Source: Yahoo! Finance
That is the situation for Michael Stern and JDS Development Group, whose 93-story luxury tower in Brooklyn is now on the foreclosure list . At 1,000 feet tall, the Brooklyn Tower at 9 Dekalb Ave. is the tallest building in Brooklyn. The Brooklyn Tower features the mixed-use format popular with today's developers. In addition to 138 luxury condominiums, the building has 398 rental units with a luxurious pool, 50,000 square feet of retail space and views of the New York City skyline. As recently as last month, a less than 500-square-foot unit sold for over $900,000. Don't Miss: Investing in real estate just got a whole lot simpler. This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, and you only need $100. Want To Grow Your Wealth Passively? Unlock Real Wealth with Cityfunds' Exclusive 8% Yield Fund Not long ago, those prices could only be attained in Manhattan, but a tidal wave of redevelopment in Brooklyn has pushed the borough's real esta
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