Catsimatidis "Taking a Hard Look" at 162 Myrtle Project
Not surprisingly, there’s a little more nuance to last week’s news that developer (and likely mayoral candidate) John Catsimatidis was putting his 660-unit development on hold than what New York Magazine reported. Reached by phone on Friday, Catsimatidis conceded that he was “taking a hard look” at the project in light of the current environment,…
Not surprisingly, there’s a little more nuance to last week’s news that developer (and likely mayoral candidate) John Catsimatidis was putting his 660-unit development on hold than what New York Magazine reported. Reached by phone on Friday, Catsimatidis conceded that he was “taking a hard look” at the project in light of the current environment, and implied that it would be pretty silly of him not to. His Red Apple Group owns the land outright, so there’s no mortgage burn to worry about. In the meantime, the first-time home-buyers from Manhattan that he sees as his target market now have to come up with a $150,000 down payment for that $750,000 apartment, rather than, say, $75,000 when the project was conceived. In the end, though, it’ll probably come down to retail. “If we can land some strong retail tenants in advance, we’ll go ahead and do this,” he said. Duane Reade has already signed up. How ’bout it, Whole Foods?
Catsimatidis Puts Myrtle Build on Hold! [Brownstoner]
Catsimatidis Puts Myrtle Build on Hold! [Brownstoner]
Catsimatidis on Myrtle Revealed [Brownstoner] GMAP
insecure lately?
Speaking of shrinking equity…
i’ve got your stimulus package right here
Your negative equity is a loss. That’s what has you up at night. Go back to bed and dream about the stimulous package and 2005.
Jesus, some douche is now getting his rocks off trying to impersonate that waste of oxygen formerly known as The What.
Fake.
Nice try, but fake.
I don’t think The What is coming back. No loss.
Kudlow. What a fuckin’ clown. Been saying no recession for months now. CNBC is nothing but a longstanding infommercial. As a matter of fact, that’s all they show, per se, latenight. The bigger clowns are the ones who fall for their shit – all you f*@#’d buyers.
you’re funny, What. i’d love to see you on cnbc with kudlow some evening.
“experience and primary resources”
Yep, Brooklynlove getting fucked in the ass!
Hey Fucktards the news is getting great everyday, Not! You know why this assfuck is walking away, There are tons for fucking Condos going up. This is called MALINVESTMENT!!!!!
Check this shit out. Friday night I drive up the gas station, there is NO ONE THERE!! The time was 7:49 PM. There is a recession going on in America. NO ONE CAN ADFORD THIS BULLSHIT!!!! This asshat gets it and is walking away.
Here read this AIG is sucking the big one. BTW the secondary Mortgage market is frozen shut. Deals are falling apart now and comps are lower.
AIG Falls on Concern Losses May Have Been Understated
http://www.bloomberg.com/apps/news?pid=20601087&sid=a2sGJdJ3bJ10&refer=home
This quote is rich
Today’s announcement “will leave investors worrying about other skeletons in the closet,” Nigel Dally, an analyst at Morgan Stanley, said in a note to clients. “Investors should brace for a mark-to-market loss of roughly $5 billion in the upcoming quarterly results.
See assholes it’s fucking over.
The What
Someday this war is gonna end…..
WF, or Fairway and I would be in heaven. I would hold my breath, but I don’t think it will ever happen. 🙁