Since the new year started, there has been a couple of request from readers asking what is going on with that condo development at 220 St. Nicholas Avenue and 121st Street. The lower photo (which was taken last January 16th, 2010) when glass was going up on the building looks exactly the same compared to the top photo which was taken just yesterday. Basically, this large scale construction hasn't really progressed since last summer but there had been some rumors that things were picking up again. As mentioned, we haven't noticed any activity on the site recently but a look at DOB files show that there was a stop work order on the property about three months back and that was later resolved in November. The latest permits on file now were submitted at the end of December so maybe progress will indeed be at hand for 2011. Anyone have any more information out there?
This project, like many others fell victim to the housing crash that began in 2008. From what in understand, it is a Independent first time developer who’s original price points for selling units were too high for the market at that time (2008). With no pre construction sales, banks not lending, and the growing inventory of condo’s not selling anywhere during the market down turn, it was only a matter of time. It now seems that all the recent press about FDB, the restaurants, the hotel, the recent condo sales are getting old projects going and might put the remaining empty lots and store fronts in play. As the overall economy recovers, so shall FDB
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