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These 6 developments have hit major snags amid NYC's building boom

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Stalled developments abound in New York, even as the number of approved buildings has risen

New York City is in the midst of a bona fide building boom, with new developments announced seemingly every day, and the number of approved building permits hitting pre-recession highs. But a new report in the New York Times pokes a hole in those stats, noting that "stalled projects can be found around the city." And some experts believe it’s indicative of a larger trend. "I think we are due for a reset in the residential condo market," Jason Meister, who works for Ackman-Ziff Real Estate Group, told the Times.

To illustrate the various challenges that developers have faced in recent years, the Times looked at the trials and tribulations of six stalled projects, from affordable developments in the outer-boroughs to high-profile Manhattan towers. Here’s what they found:

Bauhouse’s East 58th Street tower

Status: Stalled

Bauhouse’s planned Sutton Place skyscraper, which would have risen 900 feet, is currently in limbo as the developer and its investors face off in court. To briefly recap: Bauhouse revealed plans in 2015 for a skyscraper designed by Foster + Partners, but trouble started brewing earlier this year. Bauhouse defaulted on a loan; the investor, Gamma Real Estate, moved to foreclose on the property; and Bauhouse filed for bankruptcy. The tower is currently stalled, but as the Times notes, it "was at a disadvantage from the start" because of its location, far from Billionaires’ Row. "Bauhouse’s expectations of condo sale prices of $5,000 a square foot were unrealistic," Alan Kersh, who worked against the tower’s rise, told the Times.

12-14 East 37th Street

Status: For sale

Turkish firm Nef announced plans for its first New York City project, a 65-story tower on East 37th Street, in 2015, and revealed a design by Perkins+Will that would have hanging sky gardens and lots of communal spaces. But, according to the Times report, Nef never filed plans with the Department of Buildings, and the site is now up for sale again.

Elad’s West 43rd Street tower

Status: Still in negotiations

This is a case where the building in question may still actually proceed. Developer Elad purchased a parcel of land along West 43rd Street in 2014, with plans to build a luxury condo building. But there were a few snags: First, Community Board 4 railed against the development’s height; it was ultimately approved by the City Council in 2015. The delay is due to negotiations with Amtrak, which owns the rail yards that the tower would ultimately rise over. "There are often a number of issues that need to be worked out with these kinds of projects, and some take longer than others," an Amtrak spokesperson told the Times; an Elad representative, meanwhile, said that they expect construction to begin later this year.

1800 Park Avenue

Status: Stalled

As the Times notes, the development that was due to rise on what were once parking lots for the New York College of Podiatric Medicine has run into many problems over the past decade. Vornado Realty Trust bought the site in 2007, and it was later acquired by Ian Bruce Eichner’s Continuum Company in 2013. Eicher tapped ODA New York to design what would have been Harlem’s tallest tower, which—true to ODA’s style—had a rather Tetris-like design. But that also stalled—the funds dried up—and now, the Durst Organization is in talks to buy the site (though no word if the previous plans would remain the same).

Halletts Point and Astoria Cove

Status: "Reined in" and stalled, respectively

But Durst isn’t immune to these problems: Its Astoria megaproject, Halletts Point, has been "reined in" after the city and state’s inability to come to an agreement on the 421-a tax abatement program. The development was due to have more than 2,000 apartments, many of which would have been affordable; though a groundbreaking happened on one phase earlier this year, the future of the rest is unclear.

Not too far away, Alma Realty’s Astoria Cove development suffered a similar fate thanks to the expiration of 421-a. Developer John Mavroudis told the Times, "projects like this were conceived with the 421a in mind and we rely on its reauthorization in order to move ahead." But with that up in the air, the future of this project—which would have brought 1,700 apartments to the area—is uncertain, and a groundbreaking has yet to happen.