From left: Lev Leviev, the Apthrop and resident Cyndi Lauper

After nearly three years of controversy, the landmark Apthorp condominium on the Upper West Side has won approval from the state Attorney General’s office to commence closing apar [more]

Lawyers for iStar Financial claim that the lender never received millions
of dollars from apartment sales prior to the foreclosure filing at One
Madison Park condominium, according to court documents obtained by The
Real Deal. Lawyers for iStar faced off against counsel for the developer in a March 23
hearing before state Supreme Court Judge Eileen Rakower, who heard
arguments about the lender’s request for a court-appointed receiver. Meister Seelig partner Stephen Meister, an attorney representing the developer, said he was not aware of any allegations of missing funds. “So many of them are completely baseless and untrue that it’s really not
a good idea to rely on these unsupported allegations,” Meister told The
Real Deal. [more]

Sheffield57 developer Kent Swig was forced to halt sales after state
regulators notified the sponsor that the offering plan at the troubled
West Side condominium had expired, according to three sources familiar
with the decision. Swig will not be able to sell any apartments until Attorney General
Andrew Cuomo approves a 19th amendment to the offering plan, which
legal sources say is required to update prospective buyers about any
material changes in the operation of a condo or co-op conversion. A spokesperson for the attorney general’s office did not return calls for comment. On Sept. 9 of last year, Swig issued an 18th amendment, but that amendment
only updated unit prices at the building, and the Martin Act, which
regulates conversions in New York State, says that pricing-only
amendments do not extend the expiration of the offering plan. [more]