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Prodigy-developed Coworking Facility Facing Foreclosure


The auction announcement comes three weeks after Prodigy filed for Chapter 7 bankruptcy, and nearly a year after the crowdfunding network’s founder Rodrigo Niño died. The company is facing more than a dozen lawsuits filed by investors who reportedly poured more than $690 million into its investment platform.
A lawyer for Prodigy Network did not respond to a request for comment.
More than $50 million of equity for the Assemblage John Street development came from small-time investors who were lured by the promise of higher returns. According to the investor materials reviewed by The Real Deal, the project had struggled to break even for about a year after it opened in April 2018. The balance sheet finally turned positive in the second quarter of 2019, but income was still well below what was projected. The investor document cited oversupply in the local hotel market as part of the reason for the facility’s underwhelming performance. ....

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"Architecture is Like Writing a Song": In conversation with Rick Joy


VB: Have you come across any particular building that may have inspired you to go into architecture?
RJ: When I told my art teacher at Maine College of Art in Portland, Maine where I studied color theory, sculpture, and photography that I wanted to pursue architecture he recommended me to go visit the Haystack Mountain School of Crafts in Deer Isle, Maine [1961] designed by Edward Larrabee Barnes [1915-2004]. I fell in love with the ocean-front campus with its vernacular style pavilions raised on stilts and interconnected by a series of walkways. Larrabee Barnes became my first favorite architect. And the first publication I ever purchased on any architect was his Museum Designs paperback brochure. And a few years ago, when I was working on my Princeton Transit Hall and Market project on Princeton University campus, it was especially rewarding because it directly faces his New South Building there. ....

United States , France General , Mexico City , Distrito Federal , New Mexico , Princeton University , New Jersey , Maine College Of Art , Deer Isle , Haystack Mountain , Grace Farms , New York , University Of Arizona , Dover Foxcroft , New Canaan , Lincoln Center , Art Institute Of Chicago , Sonoran Desert , Rick Joy , Frank Gehry , Totan Kuzembaev , Eero Saarinen , Larrabee Barnes , Jeff Goldberg , Marlon Blackwell , Peter Stutchbury ,