Another Developer in Distress


Last week it was a 16-unit building in East Williamsburg, yesterday it was a hole in the ground in PLG and today the fire sale by a developer under pressure is on the western edge of Bed Stuy. The developer behind the six-unit, Scarano-designed condo at 354 Franklin Avenue (aka 120 Lexington) is now offering 25% off to anyone willing to buy all six units. The building itself is 8,500 square feet, with 7,000 square feet of residential space. $2,300,000 gets it all. Details here.

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