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On the Investment Market: Bushwick's 999 for the Price of 1

Back in the intoxicating summer of 2006, a new 18-unit Bushwick condo building called 999 made a splashy introduction via the New York Post. It's name was at once a nod to its 999 Willoughby Avenue address as well as the number of reasons why the building probably seemed like a good idea to the developers at the time. It was priced from $289,000 for a 690-square-foot one-bedroom to $500,000 for a cream-of-the-crop two-bedroom with private terrace, but?to steal from the Brüno preview?that was so 2006. Now the whole 14,100-square-foot building is on the market for $5.8 million, which works out to $322,222 per apartment. According to the listing construction will wrap in the fall, and the building will be "delivered as a finished condominium building, rental, or student housing facility (with a comprehensive business plan in place)." In hindsight those dark and stormy clouds in the rendering were awfully prescient.
· Listing: 999 Willoughby Avenue [LoopNet]
· The New Hotness in Bushwick: 999 Willoughby [Brownstoner]