Articles Archive for 8 May 2012
Deals & Dealmakers, Featured »
Developer Isaac Katan has filed a second lawsuit against the Community Preservation Corporation (CPC), his partner in the re-development of the Domino Sugar factory site along the Williamsburg waterfront.
The suit comes after the New York State Supreme Court ruled against Katan in his attempt to block the CPC from handing a majority stake in the troubled project to primary lender, Pacific Coast Capital Partners (PCCP), a California-based firm.
“This new suit was filed to vindicate Katan Group’s right of first refusal which exists to protect Katan Group’s rights in the event of a sale,” said Katan’s lawyer Y. David Scharf
Deals & Dealmakers, Headline »
New York appeals court today (Tuesday) ruled in favor of the former developer of the Meadowlands Xanadu shopping center, overturning a lower court ruling and giving Colony Capital the right to recover damages against a lender who refused to fund a $1 billion construction loan.
Colony and its partners were forced to abandon the project when one of the lenders, an entity formerly associated with Lehman, refused to fund its share of the loan.
Triple Five acquired the uncompleted project from the lenders in 2010 with a promise to turn “the ugliest mall in America” into an international show piece that will open in time for the 2014 Super Bowl at the Meadowlands.
Brokers Weekly, Featured »
For Gregory Williamson, senior vice president at Prudential Douglas Elliman, knowing the lay of the land gives him and edge over the competition.
Williamson, 33, grew up in Brooklyn Heights, attended high school on the Upper West Side and currently lives in the West Village.
“I’ve seen the neighborhoods change,” he said. “I’ve had a lifetime of experience to learn the product.”