Wednesday, December 03, 2008

Maybe Three is the Lucky Charm

The package of 17 East Village buildings that were sold twice in two years for loads of profit, with the result of a lot of tenants being forced out, and NYU students moving in, are on the chopping block again. This time they are asking $111 million for the package.

First, they were bought by Extell for $72 million in 2005. Then they were bought by Westbrook, managed by the Shaoul phantoms (we think) but mostly an anonymous man on the phone named "Josh I don't have a last name" for $97.5 million in 2007.

One year later, a lot of construction jobs created, hallway floor tiles, cheap cabinets, fake stainless steel refrigerators and chemical-wood floors purchased, and they will, if all goes their way, make $13 million in one fell swoop. So now they can build another adorable condo like the atrocity A Building on 13th Street or the commonly ridiculed Yves in Chelsea.

Who will be next? Third time's a charm.


Anonymous said...

Hey Jill, do you have a link to this story? I live in one of the buildings but haven't heard anything about it. Thanks. :)

Jill said...

Cooper Square had a meeting with the tenants associations of the various buildings and gave out the prices. I haven't seen it in the news yet - I have the breaking story!!

Jill said...

Who are you?

Anonymous said...

Thank you Jill. I am on the CSC mailing list but couldn't make the recent meeting. I would rather not post my name here (and don't have a blog to link to), but I am here only in support.