The last remaining holdout against the Forest City Ratner Atlantic Yards development has caved after accepting $3 million for his $500,000 apartment in Brooklyn. Daniel Goldstein held out for six years, but as the saying goes – you can’t fight City Hall and after the New York Court of Appeals upheld the decision to allow private developers to forcibly take your home in New York if there is enough money to be made, Mr. Goldstein was effectively fighting City Hall.
Still – he put up a good fight and I believe him when he says most of the $3 million will go to his lawyer. he has also agreed to not “actively oppose the project,” and denies rumors that he was asking $5 million.
The project has drawn opposition from all sorts and has been the subject of numerous lawsuits and been changed to suit the new austerity of the post credit-crunch America. The developer is apparently paying more than double that in interest charges per month and $3 million was a worthwhile investment to be able to get on with things. Exactly how these “things” will turn out remains to be seen as the financial landscape has changed in the 6 years since the project was first touted.