A former prison in the New York City neighborhood of Chelsea has become a hot piece of real estate.

“Developers are circling the skies like vultures,” one community official told The New York Times.

The state has decided to close the prison partly because it carries a high per-prisoner cost. Inmates were evacuated last fall in anticipation of Hurricane Sandy.

Source: NYC

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top