New York City residential real estate developers across the board were burned badly by the economic crisis following the fall 2008 Lehman Brothers failure and fallout. Many failed, blew up and went away. Fortunate ones hunkered down, retrenched, studied their weaknesses, gathered their strengths, learned from mistakes all the while waiting out the storm. Now, with record setting low inventory in the NYC market, a number of them are coming back, scrambling back, to serve a product starved marketplace. Here’s a look.
Link to article by Robin Finn, Oct 25, 2013 NYT
Newly developed Citizen Condos by Anbau Enterprises, 124 West 23rd Street New York, NY 10011