As the bubble bursts and the real estate market ... um ... adjusts, there are few more depressing signs than a partly constructed building. The monstrosity at right, currently blighting the NE corner at Lefferts and New York, has been sitting dormant for years. I knew this, because I frequently pass it, but never really thought about the fact that it is almost (if not completely) unchanged from when we moved to the neighborhood in early 2006.
A building that hasn't progressed since 2006 isn't entirely a casualty of the current economic woes - the developer ran out of money during the boom times, after all - but there is no way that the building will move today. Especially when a partially completed project has been left to suffer the whims of the elements for years and the owners have the building on the market for $8.5 million.
Via Curbed.
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