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September 17, 2007

A blighted gas station? Or an increasingly valuable piece of property?

Atlantic Yards Report

MobilStation-AYR.jpgIn a city where gas stations are disappearing, it might seem disingenuous to determine that a gas station is "blighted" because the land is "underutilized." But that's what is happening on the corner of Dean St. and Flatbush Ave.

Forest City Ratner has been systematically taking down the surrounding buildings, so it seems logical that the gas station would be next, especially since Ratner paid $5-million-plus for the property. However, the status of John Tsao's lease is unclear and he's not talking.

In case you're wondering, Atlantic Yards Building 2 is supposed to be around four-times the height of the eight-story building in the background of this photo.

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Posted by lumi at September 17, 2007 12:25 PM