Sixteen Court Street, that soaring wedding cake of a building that pierces the sky above downtown Brooklyn, was built in 1928—the cusp of an economic catastrophe against which all future recessions would be measured. Like those who made that ambitious investment in the borough of Kings, SL Green could not have known what lay in store when it bought the trophy in August 2007.
It looked like an easy turnaround. The estate of Joseph S. Wohl—Larry Wohl’s J.P. Day, which now holds nearly 2 million square feet of commercial space in the city—had owned Brooklyn’s tallest office building since the 1970s, and allowed it to fall into serious disrepair. read more »