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Willets Point: Free Money!

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Broker-blogger Eric Benaim shares "a little inside scoop" on where the city stands in its buyout negotiations with local landowners in the Iron Triangle: "About 4 months ago, the city stopped returning calls to the landowners that they havent settled yet, then all of a sudden 2-3 weeks ago, those owners got calls letting them know that the city has stopped negotiating for now as the economy isnt great and will resume in a year or so, but that the owner can do whatever he wishes with that land, i.e. sell or whatever. To make things even more confusing is that the city has already paid some of the landowners a portion of the money and that they can keep it no matter what!" [OuterB; previously]