Magic Johnson's Greenpoint Luxury Condo Bankrupt

Magic Johnson's Greenpoint Luxury Condo Bankrupt

As the blind man cries in Los Olvidados, "One less! One less!" Magic Johnson's Viridian condoplex in Greenpoint opened its doors to buyers optimistically with a "Buy Low -- Live Large Party." But even before it debuted, people were skeptical: Miss Heather laughed at it ("Who wouldn't want to pay Williamsburg prices to live in G train digs after seeing Sales Office entrance as classy as this one?") and a local realtor told The Real Deal, "Greenpoint is not Williamsburg. The G train is not the L train. It's kind of iffy." The whole market is kind of iffy, and a hypercondo with an indoor pool, skylit courtyard, sauna, etc on Green Street down by the warehouses is more as-iffy. Curbed saw it going rental as far back as December, and now we learn that its developer is going bankrupt. They'll try and rent the units, but we doubt New York's few remaining millionaires, even the youthful ones, will want to live in a place where the big attraction is the Greenpoint Coffee House. Maybe they can throw a tarp over the pool and make it into a club. One less!


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