Many of the new condominiums erected in Brooklyn during the last building boom are not aging well. The New York Times reported that “[w]hen the housing market collapsed in 2007 and coffers ran dry, many developers were left scrambling to complete projects. Some cut corners or abandoned developments, leaving others to finish the work.” This led to poorly constructed buildings and angry residents who are stuck dealing with mold, cracking balconies, and flooding. One such building even saw part of its facade fall off. Now many of the developers behind the shoddy buildings are breaking ground on new projects, hopefully with more attention to quality.
500 4th Avenue in Brooklyn. (Courtesy Google)