A Brooklyn real estate developer, whose lenders include former basketball great Magic Johnson, has filed for bankruptcy.
The company is the owner of 110 Green Street Development, a six-story luxury condo in Greenpoint, Brooklyn, called The Viridian. Sales of its 130 units began in June. In the filing the company noted that the Viridian’s construction coincided with an unprecedented decline in the real estate market generally, and in Williamsburg and Greenpoint specifically.
A call to a representative of 110 Green Street was not returned. The Canyon-Johnson Urban Fund said it expects to recoup its investment.
Tuesday, March 3, 2009
New York City 2010
