Even in a planned community, things don’t always go as planned.  The commercial property that’s part of the Parkchester planned community in the Bronx has seen its valuation slashed from $112 million to $71 million — a 37 percent haircut, according to Morningstar Credit.  Similar to Manhattan’s Stuyvesant Town, Parkchester is a planned community with towers spanning 129 acres. The complex contains nearly 12,300 apartments and lends its name to the surrounding neighborhood. The dozen two-story office and retail buildings making up the Parkchester Commercial Property are controlled by the Parkchester Preservation Company, which took over as sponsor of the […]

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