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Foreclosures Spread to City's Fancy Buildings

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Among the treats in the January issue of The Real Deal is an extensive update on the state of New York City's foreclosure scene. While filings in the state as a whole have dropped, the city has not been so lucky -- and in fact, foreclosures are now hitting the high-end market, even (gasp!) formerly-immune co-ops. Sarah Ryley reports that one Upper West Side co-op at 100 West 81st Street sold in December for $28,000, though some irregularities in the courthouse rotunda auction will likely lead to the sale's being thrown out by a judge. At super-pricey and occasionally stinky 200 Chambers Street, there were 11 foreclosure filings in 2009's third quarter. In fact, the list of buildings now falling victim to foreclosure is something of a who's who of vaunted boom-time developments across Manhattan and Brooklyn: the Atelier (right), 555 West 23rd Street, 1600 Broadway, the Mill Building, etc. Just looking at that list is making us a little teary, so we can only imagine how the apartments' owners are feeling.
· Second wave of foreclosures hits middle-class and upper-end NYC neighborhoods [TRD]
· From gentrification to foreclosure: Williamsburg, Greenpoint, Fort Greene [TRD]

1600 Broadway

1600 Broadway, New York, NY 10013

200 Chambers Street

200 Chambers Street, New York, NY 10282