18 March 2008

Don't Blame Landmarks--Just Get Some Viagra

Staten Island developer John Grossi is suing the city for $10MM on the grounds that its designation of the dilapidated 1869 Bedell House as a landmark--which he bought with the intention of demolishing and replacing with townhouses--has stuck him with a money pit that he can't sell, leaving him physically drained and unable to fulfill his husbandly duties.

Something tells me that he could fix that problem with Viagra; what a pill won't fix is the $5,500 a month mortgage payment he has on an 11% sub-prime loan. Unless, of course, it's a cyanide pill. His wife is seeking an additional $2MM.

Grossi, it's time to tighten. It's rough that your property value was yanked out from underneath you, but don't blame your plumbing problems on public policy.

original story at NYDaily news
more at gothamist

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