979 Willoughby as construction wound down in 2007. — Photo by Yury Bekerman
Before a local condominium development went to market, we reported its slick fixtures and awkward spaces, and though the units were livable we determined the prices were too high even in boom times. Nearly a year ago, its architect Robert Scarano of mezzanine fame said the market would recover to bubble levels from Obama’s stimulus. It turns out Scarano is no economist — 979 Willoughby hasn’t sold a single unit, and, neighbor newspaper Times Newsweekly reports, is now being rented out to recovering drug addicts with public money, just as we warned in March last year.
The cash from the city must be significant if it’s better than renting them out to yups like Castle Braid has done. Begs the question — is this extra payment the cost for a landlord to take a risk on such tenants? Does the neighborhood get a say? New York City’s government says no.
We’ll try to find out more about this in the coming weeks.
sjp February 5th, 2010 at 12:20 pm
i knew i should have majored in Recovering Drug Addict.
ssss February 5th, 2010 at 12:33 pm
Well at least maybe drug addicts will scare away the NYU undergrads without the rent going up.
chillinoncentral February 5th, 2010 at 5:08 pm
WoW – Some of the sweetest available abodes in the area, and the city privately arranges with the landlord to award them to meth characters who will inhabit them gratis and likely meander the community like zombies while the city cries poverty! I think this landlord deserves everything that is coming to him.
armstrong February 5th, 2010 at 5:29 pm
Wow. What a shame.
Matt February 5th, 2010 at 6:03 pm
everyone needs a place to go, but recovering addicts in a posh condo on a weird corner with drug activity still in the area? this aughta be interesting.