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Another Stalled Brooklyn Building Getting That Magic Touch

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Certain people believe Clinton Hill condo project The Isabella is the poster child for "unthinking elite arrogance." Those same people may have felt the building got what it deserved when it landed on a state assemblyman's list of troubled Brooklyn projects. We hope they've enjoyed their gloating while it lasted, because the Isabella's now coming back, zombie-style. Magic Johnson's Canyon-Johnson Urban Funds has given the project $22.6 million in financing to finish up the interiors and launch sales, the Brooklyn Eagle reports. The 63-unit building, which will have an average apartment price of $530,000, should be done in mid-September, with occupancy set for later in the fall. We don't anticipate any problems, because Magic Johnson has a pretty good track record when it comes to rescuing struggling new condo developments. Oh, wait. Well, at least the Viridian mess hasn't scared him away from the Brooklyn condo scene forever.
· Magic Johnson Provides Financing for Clinton Hill Condo Development [BK Eagle]
· 65 Brooklyn Buildings Sent Out an SOS