At the end of June, buyers at Flushing's Sky View Parc were told they'd be getting a total of $3.69 million in refunds, the largest ILSA settlement ever in New York. Which is nice for the buyers, of course, but not so pleasant for the developers, who were also accused of failing to disclose the project's cost overruns and loan issues to those who'd signed contracts. Even so, one month later, the developers insist to the Post that they're cautiously optimistic about sales. Do the stats bear this out? Er, not exactly.
According to developer Onex, only 45 units, or 10 percent of Sky View Parc's first phase, have sold. Another 107 apartments are allegedly in contract, with a number of foreign buyers interested and the developer committed to building three more towers in the project's second phase. StreetEasy is still showing only eight closings and nothing in contract. One of those units closed at 31.2 percent off, which might be the only number here of which we're not skeptical.
· Holdout struggle at 48 E. 57th Street [NYP]
· Sky View Parc [Curbed]
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