Brownstoner: Penson’s Marketing of 100 Clark May Show Reason for Neglect

The groundswell of rage over the “demolition by dereliction” of 100 Clark Street is growing. Brownstoner does their homework and reveals a few new facts including:

Brownstoner: The marketing document Penson has been using in recent months to try to sell the building (the price had started at $4.45 million but had recently gotten as low as $3.5 million) reveals that the tenants were paying monthly rents of $550, $617, and $575 and that approved plans had been approved by Landmarks for a rear extension that would have taken the size of the building from 8,000 square feet to 9,750 square feet. So we’re talking about the difference between the building being worth $3.5 million and $10 million. Sound like reason enough to look the other way?

Brownstoner photo by Ali Lovell

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