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Astoria developer falls from grace

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High Five
Tuesday, April 06, 2010

Astoria developer Chester Trabucco is known for helping reestablish the city as a tourist and retirement destination.

But now his local legacy is being plagued by debts and foreclosure, with his newly renovated Fisher Brothers building becoming the most recent casualty.

Trabucco said his fall from grace mirrors that of other commercial real estate developers: Ill-timed investments in riverfront condominiums sealed his fate.

As he loses his grip on his properties in Astoria, several distinguished downtown buildings are shifting out of local control to absentee landlords, and many of Trabucco's backers in the business community have turned on him.

Read the full story at The Daily Astorian.

{biztweet}Chester Trabucco Astoria{/biztweet}

 

Comments   

 
Jay Mills
0 #1 The crook finally gets his.Jay Mills 2010-04-23 20:41:41
I have been watching this so called developer that last few years toot his horn a little to much. What goes around comes around. Good bye and please move on.
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