The Real Estate

One Brooklyn Bridge Park as Symbol of Crisis' Impact

by Tom Acitelli  |  11:47 AM November 3, 2008
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From Bloomberg News: "Nowhere is the high-water mark of New York real estate more visible than the former Jehovah's Witnesses distribution facility at One Brooklyn Bridge Park. The 14-story condominium complex shattered the borough's price ceiling when real estate entrepreneur Elizabeth Stribling agreed in March to pay $6.05 million to live there. Now, two- thirds of the 449 units in the 1.2-million-square-foot building remain unsold, testament to the financial excesses brewed up across the East River in the Wall Street canyons framed by One Brooklyn's floor-to-ceiling windows."

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