Historic Garment District Saved

The Feb. 1 news article, "Historic Garment District Saved," mischaracterized the terms of a real estate deal between a Kendall Square vintage-clothing store, the Garment District, and a local affordable housing and social services provider, CASCAP.

The article said that the deal was "extremely profitable" for the Garment District's president, Christopher Cassell, and real estate developer Tani Halperin.

While Halperin said in a phone interview last week that "there is no doubt that this is a profitable deal" for the Garment District, upon further investigation by The Crimson, the Feb. 1 article's unambiguous assertion that the deal was "extremely profitable" for Cassell cannot be verified.

Cassell and Halperin purchased a plot of land at 200 Broadway for $3.4 million last May, according to both men. Also last spring, Cassell purchased an adjacent plot at 125-7 Harvard Street for $1.5 million.

Due to a disagreement over development plans, Cassell and Halperin agreed to end their partnership in November, with Cassell buying out Halperin's 50-percent stake in the 200 Broadway property.

Last month, CASCAP purchased the entire 125-7 Harvard Street plot and about a quarter of the 200 Broadway plot from Cassell for $2.9 million, according to Cassell and CASCAP's chief executive, Michael Haran.