Developer vanishes with $4 million, mortgage applications hit record low, & more

By Emily Myers | July 21, 2022 - 10:30AM

A Brooklyn developer—Xi Hui "Steven" Wu—is accused of disappearing with $4 million in deposits from condo buyers at 345 Ovington Ave., in Bay Ridge (New York Post)

Construction starts on the Mount Hope Walton Apartments, a $55 million low-income housing development in the Bronx with 103 affordable apartments and a community gym (press release)

Demand for new mortgages continues to crater, hitting a 22 year low (The Real Deal)

Mayor Eric Adams estimates 2,500 Latin American immigrants entered New York City's homeless shelters in recent months (The City)

A Brooklyn judge throws out a lawsuit trying to overturn the Gowanus rezoning (Brooklyn Paper)

Check out one of the city's 550 cooling centers where you can escape the heat for free (Gothamist)

Emily Myers

Senior Writer/Podcast Producer

Emily Myers is a senior writer, podcast host, and producer at Brick Underground. She writes about issues ranging from market analysis and tenants' rights to the intricacies of buying and selling condos and co-ops. As host of the Brick Underground podcast, she has earned four silver awards from the National Association of Real Estate Editors.

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