Regarding the Dermond/NLE sale of the Kenilworth/Farwell project: does anyone know how common it is for developers to sell projects shortly after they’ve been approved by the city? Is this a normal event or a sign of economic stress?
@Rob That’s a great question and I was wondering it myself. I know for example that the Aloft project was also sold to another developer and the failed Palomar project had a larger (GateHouse) developer brought in to lead the project. But I’m not sure beyond those two recent examples how often this happens.
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