Somewhere Over the Rainbow: Can Activists Reclaim a Dilapidated East Village Landmark From Ruin – Or From Its Creditors? 

Facing the absurdity of New York’s real estate market: A mural at P.S. 64. Sarah Ferguson

A group of young teens were shrieking as they emerged from the old P.S. 64 school building in the East Village one recent November evening. They said they’d just seen a “ghost” on the top floor of the vacant property.

The five-story, 150,000-square-foot, turn-of-the-century building certainly looks like a place that might harbor spirits. It has sat empty for the past two decades, thanks to one of the most protracted real estate battles in the history of New York City. 

In 1998, former mayor Rudy

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