Developers lust after closed NYC prison

The premier event for luxury agents and brokers
Luxury Connect | Oct. 16-18 | Beverly Hills

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