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May 23, 2006

FCE's 10-K: has developer spent more on Nets than for Atlantic Yards?

Atlantic Yards Report takes a look at Forest City Enterprises' filing with the SEC, which suggests that the parent company of Forest City Ratner has actually spent more on the Nets than for the much more expensive Atlantic Yards project.

Are some costs hidden, or were they logged too recently to appear on the form? Is FCR hedging its bets? Has the company merely acquired options on most of the property it now "controls?" Check it out and see for yourselves.

Posted by lumi at May 23, 2006 7:56 AM