great news! This will surely help to stabilize and take some of the 'edge' away from this corner. Another piece of our urban fabric renovated and secured for years to come.

great news! This will surely help to stabilize and take some of the 'edge' away from this corner. Another piece of our urban fabric renovated and secured for years to come.

I've followed this building for years. It sold in 2005, the same year my former building at 77 Richmond sold. Both buildings are classified as 411, apartment buildings. 245 North St is substantially larger and sold for $700,000 whereas 77 Richmond sold for $315,000.

The similarities end with the gross city property taxes the buildings pay. 245 North Street is assessed at $200,000 and pays $6,552.83; 77 Richmond is assessed at $315,000 and pays $10,320.70. Keep in mind that before any rehab, 245 North sold for over twice the amount 77 Richmond did in the same year, yet it only pays two-thirds the taxes, according to city records. An added kick is that 77 Richmond still has a rent-controlled tenant so the rent for that apartment can't be raised by law no matter what the property taxes are.

In any event, it's nice to see the project finished and hopefully elderly and disabled people of any age will once again have a safe place to live.