Magic Johnson's Greenpoint Condo, The Viridian, Is Bankrupt!

It was supposed to be a slam dunk, but the gargantuan six-floor luxury condo in Greenpoint called the Viridian is ending up an airball. In December it was revealed that the Viridian was going "Nondo" and would switch to rental. Today Curbed learns that the developer, whose backers include basketball great Magic Johnson, has filed for bankruptcy before this Gilded Age monstrosity could even open. Apparently, the entire 130 unit building is now up for sale, and can be yours for just $65 million, though according to Crain's the Viridian is appraised at $39 million. And Crain's also reports that Fannie Mae might step in as an investor, because why the hell not—they're really on such a roll with the real estate financing thing.

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By John Del Signore in News on February 18, 2009 6:37 PM

Comments [rss]

hellogreg

I hear you BigFudge. Green street was a f'n mess for a year, and now i cant see the sky from my apartment. Thanks Magic!

Hieronymus

So what's it going to be now, a luxury crackhouse?

NannyState

"From Bauhaus To Crackhaus".

BigFudge

Those jerks ruined my life for over a year! They worked on that building until 8pm every night, on weekends, and on holidays. They blocked the street, blocked all the parking, and screamed at each other and passers-by all day. F' YOU, 110 Green Street! F' YOU, MAGIC DICK!