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Tough Times: Development Didn't Pay the Darn Rent

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Close followers of the some of the pain that has set into the Williamsburg condo construction and sales businesses may recall that the much-hyped and anticipated Steelworks Lofts in the Burg decided to hibernate for the winter, shutting down its sales office while ostensibly continuing work on the AvroKO-designed development itself. (Although financing isn't finalized.) The shutdown was described as "part of a prudent business plan." There does seem to be a glitch, however, with the shutdown of the sales office, per a tipster who wandered by and wrote: "Looks like steelworks lofts didn't pay the rent." Indeed. Some serious blowing up in Photoshop and sharp eyes shows that the notice says that $18,000 in rent is due per a lease signed in July. Hey, everybody forgets to write a check every now and then. It's in the mail. Relax.
· Arrested Development: New Buildings Hybernating for Winter [Curbed]
· Steelworks Lofts Coverage [Curbed]