Saturday, December 27, 2008

Developers play the waiting game

With lenders going into bankruptcy and the sales market disappearing, developers all over New York are facing choices about how to ride out this down cycle.

"If you go past construction sites, there are buildings with cranes that aren't moving," said Shaun Osher, CEO and founder of Core Group Marketing. "There are half-built buildings where there's no construction happening."

However, the choice of whether to "mothball" a project isn't always up to the developer — sometimes the decision is made for him by the current lack of loan availability.

Developers mothballing projects -- when they can


Anonymous said...

what about willets point we have $$$ for that as mr billionaireburg to fund it

Anonymous said...

Now is a time for the community to make a grab for the East River Waterfront.

Where is Green Shores? Taking money from developers and politicians?

How about listening to the community?

First step is to put our name back in. You ashamed of 'Astoria'?