We weren't all that surprised to learn today that Andrew Cuomo is investigating 225 Rector Square for all sorts of fraud after ice bucket wielding developer Yair Levy and management company Cooper Square Realty allegedly ran off with common charges and PILOT payments right before Levy defaulted on the construction loan from Anglo Irish bank.
After reading yet another article about how pissed the people who actually bought in this bankrupt building are, we found ourselves wondering, exactly how many units sold in this building and when? Well, it turns out (based on data provided by Streeteasy) that approximately 65 units out of a total of 305 were sold, or about 20% of the building. The last unit to sell was #3G (which we believe to be a 574 sq ft studio) on November 25, 2008 for $570,000. We still think that's a whopping price given that the building would file for bankruptcy only 3 months later.
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