The primary entity, ONE°15 Brooklyn Marina, cited insurmountable debt stemming from construction problems as a significant factor in its recent bankruptcy filing. Despite receiving substantial government assistance, the marina struggled with back rent and unique site challenges that prevented effective operations.
According to Adam Stein-Sapir, a bankruptcy expert, the owners of ONE°15 Brooklyn Marina attempted to find a buyer before filing but were unsuccessful. He notes that bankruptcy can actually enhance sale prospects since it allows for a sale free of liens, simplifying the acquisition process.
Collection
[
|
...
]