Marriott at 410 East 92nd Street is owned by an affiliate of Robert Gladstone’s Madison Equities (Gladstone photo source: GreenPearl)
An Upper East Side Marriott Courtyard hotel that is losing money fast is subject to its second lawsuit in less than two months.
Just eight weeks after the owner of the Marriott Courtyard New York Manhattan/Upper East Side hotel sued the hotel’s management for allegedly making secret deals that hurt the bottom line, the lender on the property has sued the owner to foreclose on a $62 million mortgage at the building.
The pair of lawsuits highlights the difficulties facing commercial building owners and borrowers in the weak economy, said Harvey Krasner, a real estate partner at Warshaw Burstein Cohen Schlesinger & Kuh, who was not involved in the litigation.
