Ratner Raises Some Serious Cash - 500 Large!

Downtown developer Bruce Ratner, whose projects have and will continue to reshape the face of downtown Brooklyn, raised over $500 million two days ago for his controversial Atlantic Yards project. From the New York Times:

The $1 billion basketball arena at the intersection of Flatbush and Atlantic Avenues is the centerpiece for the 22-acre Atlantic Yards development, which is to include more than 6,000 apartments.
“There was a strong appetite for the bonds,” said Jay Abrams, a bond analyst at FMS Bonds. “The market was comfortable with the ratings the deal received and the security that was pledged.”

Whatever your stance on the Atlantic Yards Development, this is a pretty resounding vote of confidence from financial investors for the future of the development.