Toll Brothers Posted Loss

By on Tuesday, June 3rd, 2008 at 5:21 am

According to The Real Deal, the Toll Brothers posted a quarterly loss due to to slowing demand. The Toll Brothers have plans to build three towers in the heart of the Powerhouse Arts District in downtown Jersey City. Manhattan Toll Brothers projects have been a beacon of hope for the company, but towers in still developing neighborhoods like Brooklyn and Jersey City have slowed. Back in March, it was revealed that 15% of units in 700 Grove, another Toll Brother’s project on the Jersey City – Hoboken border, was still unsold after the building opened more than a year ago. This might mean that Powerhouse District residents gain a slight reprieve from the Toll Brothers towers, but in all likelihood, any delay will be temporary.



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