It had a pretty nasty fire in it shortly after Landy bought it, which only added to the costs before the market crash. Like DTGuyd said, he's done alot to keep that section of town from indiscriminate demolition. Whether or not you're a fan of his buying up buildings in the neighborhood and "getting to them when the financing becomes available," projects like the Kales or the Addison should have been starting points for other small investors to do likewise, had there been any of those types of people here. But there weren't, except for the slumlords and speculators who didn't do anything for decades except let the area decay, or the gazillionaires, who did the same thing.