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Brooklyn Auction Update: Caveat Emptor

A classic real estate Fuck You to get our blood pumping on this first morning back. Remember the Brooklyn Heights police station at 72 Poplar Street that the city put on the auction block a month ago? Turns out the buyer didn't do his homework before bidding $9.6 million (and laying down a $1.9 million deposit). Reports the Daily News,

The auction brochure didn't say anything about it being in a landmark district?but it is?making major changes impossible. As far as the city's concerned, when it auctions property it's caveat emptor?let the buyer beware... At a meeting with city officials, Laboz asked if he could reclaim his $1.9 million deposit and have the city return the property to the auction block. The answer was no. A city lawyer said to him, "We're not obliged to tell you it's landmarked."

Aspiring developers (you know who you are), take note: this shit is harder than it looks. Happy shopping!
· More Than He Bargained For [NYDailyNews]