Abandoned Brooklyn: Property Developers Pull The Plug On A Once-Hot Market

A couple of years ago, the North Brooklyn property market was one of the hottest areas in a city that was one of the hottest in the country.

Developers and homeowners alike had visions of quick flips and quick fortunes.

But, contrary to some expectations, the area would not prove to be immune from the bust.

Not only have many developments proven to be a financial bust, many developers have cut and run, abandoning projects midway through development.

The Observer noted this trend on Summer.

The New York Department of Buildings keeps an updated list of "stalled" projects throughout the New York City.