The Real Deal New York

Posts Tagged ‘carlyle realty partners’

  • From left: Extell's Gary Barnett, 80 Riverside Drive and Carlyle's Will Conway Jr.

    From left: Extell’s Gary Barnett, 80 Riverside Drive and Carlyle’s Will Conway Jr.

    Extell Development and Carlyle Realty Partners have been blocked from unloading the last remaining condominium at the Rushmore on the Upper West Side until they cough up $5 million in interest payments to a group of would-be buyers. [more]

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  • The Rushmore and Gary Barnett of Extell

    Extell Development and Carlyle Realty Partners must pay $5.8 million to 40 former buyers in their Rushmore condominium for the interest on funds that the purchasers had in escrow, a state court judge has ruled.

    The decision Wednesday by New York State Supreme Court Justice Anil Singh is another blow to Extell and Carlyle in a three-year dispute with the group over the escrow funds. [more]

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  • From left: Extell’s Gary Barnett, the Rushmore and Andrew Chung of Carlyle Realty

    Lawyers for 40 buyers at the Rushmore condominium were awarded an injunction against the developers, after Stroock & Stroock & Lavan stopped payment on more than $15 million in escrow refunds. The buyers  just recently received the payouts, on the heels of three years of litigation with the Extell Development and Carlyle Realty Partners.   [more]

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  • From left: Gov. Cuomo and the Rushmore

    A New York State appellate court ruled 5 to 0 that former Attorney General Andrew Cuomo correctly ordered refunds to 41 buyers at the Rushmore, a luxury condominium on Manhattan’s Upper West Side.

    The development team, Extell Development and Carlyle Realty Partners, had appealed a ruling by Supreme Court Justice Anil Singh, who previously affirmed the ruling by Cuomo, which involved the rescission of more than $16 million in escrow deposits. [more]

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  • Clockwise from top left: Extell Development President Gary Barnett, the Rushmore and Carlyle Group co-founder William Conway (Rushmore image c/o CityRealty)

    A State Supreme Court judge ordered Extell Development and Carlyle Realty Partners to post an additional $5 million on top of a previously posted $1 million bond until a final ruling is reached in the protracted legal dispute at the Rushmore condominium.

    Extell and Carlyle, which developed the 289-unit condo at 80 Riverside Boulevard on Manhattan’s Upper West Side, had filed suit against former Attorney General Andrew Cuomo’s office to overturn a 2010 order that the developers refund $16 million in escrow deposits to 41 buyers.  [more]

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  • Gary Barnett and a rendering of Building 2 (credit: Curbed)

    The first of five buildings of the Riverside Center development will have both affordable and market-rate housing atop a four-story school. DNAinfo reported that Carlyle Realty Partners’ plan for the tower was approved this week by three committees of Community Board 7 and needs only a full CB7 vote, scheduled for September, before it can begin construction. [more]

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  • From left: the Rushmore at 80 Riverside Boulevard, Andrew Chung, principal at Carlyle Realty Partners and Gary Barnett, president of Extell Development

    The co-developers of the Rushmore, a 289-unit luxury condominium on the Upper West Side are facing legal trouble yet again, according to Crain’s. Extell Development and Carlyle Realty Partners are being sued by Chris Bevilacqua, who has a unit under contract at the Rushmore, for breach of contract. Bevilacqua claims that information affecting the offering, such as previous lawsuits and administrative proceedings, was not disclosed. He is seeking the return of his $525,000 deposit plus an additional $5 million in punitive damages. [more]

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  • From left: former Attorney General Andrew Cuomo, 80 Riverside Boulevard and Gary Barnett, president of Extell Development

    After nearly three years of litigation in multiple venues, a state Supreme Court judge ruled last week that former Attorney General Andrew Cuomo was correct in his 2010 order for the return of $16 million in disputed escrow deposits at the Rushmore condominium.

    Justice Anil Singh, in a 15-page decision, ordered co-developers Carlyle Realty Partners and Extell Development, to return the deposits to 40 buyers at the 80 Riverside Boulevard tower. [more]

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  • Rushmore and Extell’s Gary Barnett
    Lawyers for Extell Development and Carlyle Realty Partners, which operate together as CRP/ Extell, admitted to the state attorney general that they had no evidence to back up claims that a typographical error led to a $16 million escrow dispute at the Rushmore condominium, according to new documents filed in New York State Supreme Court. Attorney General Eric Schneiderman filed the evidence in response to an October 2010 suit by CRP/Extell that claimed the previous AG, Andrew Cuomo, erred in his April 2010 decision to order the Rushmore developer to refund deposits to 41individual buyers at the condo, at 80 Riverside Boulevard. … [more]

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  • Andrew Cuomo (top), Gary Barnett and the Rushmore
    A state Supreme Court judge ruled against former Attorney General Andrew Cuomo who filed to dismiss a lawsuit by developer Gary Barnett in the long running $16 million escrow fund dispute at the Rushmore condominium. The former AG argued that the developers, Barnett’s Extell Development and Carlyle Realty Partners, operating as CRP/Extell, missed a key deadline to challenge the April 9, 2010 ruling, in which Cuomo ordered them to refund deposits to 41 buyers at the 80 Riverside Boulevard building. … [more]

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  • Gary Barnett and the Rushmore

    New York State Attorney General Andrew Cuomo asked a state Supreme Court judge to dismiss a new lawsuit by Extell Development and Carlyle Realty Partners, arguing the developers missed the deadline to appeal his April 9 order to refund $16 million in escrow funds at the Upper West Side’s Rushmore.

    The developers, operating under the name CRP/Extell, filed a suit last month in New York State Supreme Court, arguing that Cuomo erred in allowing 41 buyers to get out of their contracts at the condo building, at 80 Riverside Boulevard. … [more]

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  •  
    Rushmore

    A federal District Court judge dismissed a lawsuit by Carlyle Realty Partners and Extell Development against Attorney General Andrew Cuomo and ordered the release of $16 million in escrow deposits to buyers at the Rushmore condominium.

    The combined entity, CRP/Extell, filed suit against Cuomo in May after he allowed 41 buyers to back out of their contracts at the condo, at 80 Riverside Boulevard. CRP/Extell argued that Cuomo deprived them of their 14th amendment rights when he ordered the rescission of the contracts. Judge George Daniels sided with the AG, who contended that the proper forum for an appeal was a so-called Article 78 lawsuit in New York State Supreme Court, and that federal court had no jurisdiction over the matter.

    [more]

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  • Gary Barnett and the Rushmore

    A federal appeals court has blocked the release of $16 million in escrow funds to buyers at the Rushmore condominium on the Upper West Side, allowing the developers to further argue their case aga … [more]

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  • alternate textThe Rushmore and Gary Barnett

    New York State Attorney General Andrew Cuomo filed a motion Friday to dismiss a last-minute lawsuit to block the return of $16 million in escrow funds at the Rushmore condominium, arguing that developers Carlyle Realty Partners and Extell Development cannot use federal courts to resolve a local dispute. The judge added that they failed to appeal the ruling in state Supreme Court, which is the normal procedure to appeal an AG ruling.

    Cuomo’s office noted that lawyers for Carlyle and Extell, operating under the name CRP/Extell at the Upper West Side project, never challenged the AG’s authority to handle such matters during the 14-month investigation and never once complained about a lack of due process, during multiple face-to-face meetings with the AG’s office.

    The move by CRP/Extell, wrote assistant AG Andrew Meier, who is representing Cuomo in the case, was done merely to deny the purchasers “rights of rescission and the return of their deposits to which they are entitled based upon the plain language of the plan that the plaintiff itself created and promulgated, simply because it is unhappy with the results of the process — not because the process was unfair.” … [more]

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  • Lawyers for Carlyle Realty Partners and Extell Development, the sponsors of the Rushmore condominium on the Upper West Side, said they plan to challenge last week’s order by Attorney General Andrew Cuomo to refund the deposits of 41 buyers, according to a court filing obtained by The Real Deal. In a letter to state Supreme Court Judge Debra James, lawyers for the sponsor, CRP/Extell, said they plan to file a so-called Article 78 that will challenge the AG ruling, and continue to argue that the disputed Sept. 1, 2008 rescission date was a “typographical error,” that should have been excused. “The AG decision concludes that certain purchasers have a right of rescission based on an obvious typographical error in a single digit in the 757-page offering plan for the Rushmore,” said Simpson Thatcher attorney Laura Murphy, who represents the two companies. The letter was in response to a demand by lawyers for Rushmore buyer Kelly Coffey to get documents and other evidence from CRP/Extell. Coffey, a managing director at JPMorgan Chase, is not one of the 41 buyers that complained to the AG, but filed a lawsuit in state Supreme Court seeking a return of her deposit. … [more]

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