De-Gentrification Is The New Gentrification
Yesterday we reflected on the inanity of the New York neighborhood gentrification story; namely, that every one follows the exact same format (bad, scary area now expensive, boring area). But we'd like to propose a new real estate story trope: de-gentrification. This is what happens when big, greedy real estate developers build one too many shiny expensive condos, then can't find anyone to live in them.
This morning we got a flack-alicious email from a "friend" of someone who is part of the "team" representing the 55 Berry Street development in Williamsburg, which, in the grand tradition of off-brand condominiums everywhere, is slashing prices 20 percent for this weekend only! They're probably having trouble selling because the building's too damn close to all those Polacks.
