Controversy
In a Huffington Post blog, Daniel Goldstein called Atlantic Yards "a corrupt land grab," "a taxpayer ripoff," "a bait and switch of epic proportions," and "a complete failure of democracy."
The MTA appraisal valued the railyard at $214 million in 2005; Forest City Ratner offered $50 million in cash, while another bidder offered $150 million. FCR eventually boosted its bid to $100 million, and said the overall value of its bid was higher than the appraised value, which was validated by the courts.
Forest City Ratner offered the condo owners in 636 Pacific St. $850/sq. foot, the condo owners at 24 Sixth Ave (Spalding Buildings) $650/sq. foot and undisclosed amounts to renters. Sellers of condos signed a nondisclosure agreement, termed a "gag order" by opponents.
Read more about this topic: Develop Don't Destroy Brooklyn
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