Forest City Ratner is currently demolishing their Downtown Brooklyn building 10 MetroTech, and while all signs point to residential development, the developer remains mum about its plans. Forest City is currently in default on the $40M mortgage for the building, and they have two years to pay back lenders, which they will likely do by redeveloping the site. The most profitable options are high-rise residential with ground floor retail or a hotel, but which will it be? [Brooklyn Paper; previously]
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