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Concerto Just Trying to Stay Alive

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Rarely does one meet a developer who is so honest about the state of his project, but Concerto's Sonny Astani lays his cards on the table to the Los Angeles Times' Roger Vincent: "When the Concerto high-rise condominium project opens this year in downtown Los Angeles, developer Hassan "Sonny" Astani will be lucky not to lose his shirt. With the market for condos in woeful decline, he already knows he won't make much money -- if any. Progress, at this point, would be to complete the $300-million project while staying out of bankruptcy." [LA Times]