Word I have is that Antares files for bankruptcy this week. Another interesting tidbit is that the boys are on the line with some pretty hefty personal guaranties – large enough to take away those side-by-side Mooreland mansions from their wives. Well, it’s a good thing that they evicted all the old folks from Putnam Green before the condo project failed – plenty of empty apartments for Jimmy and Joe to find shelter in at a moderate price. That’s assuming the new landlord doesn’t require a credit check.
Let this be a lesson to all you bold thinkers out there.
http://www.nytimes.com/2006/10/15/realestate/15wczo.html
Note that virtually every project mentioned in this piece (and several not mentioned in it) went tits up one way or the other in the last 18 months.