It's looking like buyers at Schaefer Landing in South Williamsburg were victims of the old bait-and-switch. After ponying up (in some cases) seven-figure price tags based in part on the lure of Manhattan ferry service outside their front door, condo owners will be having to hoof it to the subway come November 1, when New York Water Taxi will stop service for the winter months. With lower ridership in the colder months, it can't run the service without a subsidy from the city, the operator says. The money has not been forthcoming and given the current fiscal woes is unlikely to anytime soon.
Waterfront View Promises More Than It Can Deliver [NYT]
Photo by themikebot
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