The Post carries its neighborhood spotlight all the way across the river today, focusing on the real estate resurgence along Schermerhorn Street, specifically the two-block stretch between Bond and Smith Streets. The former urban renewal site has blossomed despite being, in the words of the developer of newish luxury rental 200 Schermerhorn, "neither here nor there -- between Atlantic [Avenue] and Boerum Hill and Downtown Brooklyn." But all is not well in ABoDoBro. New condo tower be@Schermerhorn (at 189 Schermerhorn Street) has been fighting off troubling rumors for months, but the developer now admits, "We're in stalled mode right now." The 246 units are completely vacant, and buyers who put down deposits have been given the right to walk away with refunds. The building originally hit the market with some bold prices, but lately was asking in the low $600s per square foot. Has a solution to the developer's troubles already been worked out?
· Horn Section [NYP]
· be@schermerhorn [Official Site]
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