Unsold Luxury Condos Converted into Homeless Shelters

June 4, 2009 No Comments »

luxury condos

Here’s a bit of (feel) good news on the housing front.

Some “luxury condos” in Brooklyn will be used as homeless shelters after failing to attract buyers, according to the Daily News.

The new 67-unit complex in Crown Heights comes complete with granite countertops, marble bathrooms, walk-in closets, and terraces.

The fancy units, which had been priced at $350,000, will be rented out for $90 per night, paid for by Bushwick Economic Development Corp.

That equates to roughly $2,700 per month, per unit, a figure developer Avi Shriki seems to be happy with, as others have lost their buildings to the banks after failing to fill them.

The building is owned by luxury brokerage firm HQ Marketing Partners, which began marketing the condos last summer to no avail.

Some neighboring residents expressed anger at the notion of the homeless living in such fancy digs, but the city defended the action, saying it was a creative move that would have resulted in an eyesore otherwise.

Is anyone else sick of brand new “luxury condos” sprouting up everywhere you look?

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