My Brooklyn Report

Just as we were ready to resume publishing our 6th installment in our Foreclosure Short Sales series today, I happened upon an article about Lloyd Blankfein’s Bed Stuy homecoming…and the party they threw where 1576 Fulton Street once stood. For most residents in Bed Stuy, the New York Observer isn’t a tabloid found at the [...]

September 15th 2008 became a day of reckoning for the U.S. economy. Less than 60 days from an historic election and Wall Street finds the crisis that’s been at the front door of Lucylla Baynes and others like her now busting through the doors of some of the worlds wealthiest individuals, corporations, governments, pension funds and sovereign nations. And the company who sold the junk investments backed by mortgages made up of predatory loans is now the proud owner of property in a neighborhood hard hit by Foreclosure. Are your elected officials familiar with Goldman Sachs role?

Here, in the Bedford Stuyvesant neighborhood in Brooklyn, part of the 36th NYC Council District and the 56th Assembly District, sits another shuttered building on Fulton Street between Albany Avenue and Marcus Garvey Boulevard. 1576 Fulton Street has to its left a bicycle shop that’s been in business for at least 10 years to my knowledge (I purchased a BMX bike for my son from the shop that far back) and rows of shuttered properties to its right. What it doesn’t have are apartments with tenants. Ever wondered why?