The owner of Dumbo's 133 Water Street, a building from the oeuvre of architect Robert Scarano that went nondo a little while back, has filed for bankruptcy protection, Bloomberg reports. While we're not sure what this means for the 12-story, Manhattan Bridge-abutting building, it does allow us to revisit Brownstoner's 2007 analysis of the condo-to-rental switch: "There are plenty of people who want to live in Dumbo but can't afford to buy; renters also tend to be a little less discriminating about finishes and views than people who are contemplating committing their life savings." Translation: It's a dog. [Bloomberg]
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