The developer of a troubled luxury condominium conversion project in Chelsea is facing lawsuits from two lenders for a total of roughly $20 million. Flatiron District-based Broad Mill Development Group converted a former 1901 horse stable building at 159 West 24th Street at Seventh Avenue into 24 high-end apartments. (Note: correction appended) But in the midst of the economic downturn, Carriage House Chelsea has not been able to repay its loans. In 2006, Broad Mill took out $14.5 million in acquisition and development loans from Midfirst Bank, based in Oklahoma. But after the borrowers failed to repay by May 1, after two extensions, Midfirst Bank filed suit in June in New York State Supreme Court to foreclose on the loan. [more]