Monday, January 18, 2016

Shocker: Brooklyn Heights Co-Op Turns Down $130M for Pineapple Walk

 What's next -- flying pigs?

Cooperators at Whitman Owner (75 Henry Street) in Brooklyn Heights turned down a developer's $130 million offer to buy a strip of shops along Pineapple Walk to build a 40-story tower, the Brooklyn Eagle reports.

The developer had dangled the promise of from $120,000 to $200,000+ per Whitman shareholder, plus enriched coffers for the co-op and the use of the new building's amenities.

Here's the kicker: After much discussion about seriously overcrowded schools, subways and traffic (with many developments still to come) in Brooklyn Heights . . . shareholders turned down the developer's offer!

Do things like this even happen in real life?

Apparently, yes. 

75 Henry St. Shareholders Vote Against Selling Pineapple Walk in Brooklyn Heights

Go to McBrooklyn's HOME PAGE.


Anonymous said...

Do you know what percentage of owners/residents voted?

mcbrooklyn said...

302 shareholders voted. The tower has 320 units, and there are (guessing) 10 - 20 townhouses. So a substantial majority of shareholders voted.