The future of Brooklyn's tallest skyscraper, the Brooklyn Tower, faces uncertainty amid reports of its developer, Michael Stern, defaulting on $235 million mezzanine loan repayments.
The Brooklyn Tower, New York's only skyscraper outside Manhattan, faces challenges including delays, complaints from residents about undelivered amenities, and being over budget.
The delays in completing the Brooklyn Tower have been attributed to high costs due to inflation and shortages of raw materials, leading to uncertainty about the number of unsold units.
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