A state Supreme Court judge has named veteran real estate attorney Jonathan Newman as interim receiver of the controversial One Madison Park condominium, which is currently facing a foreclosure lawsuit by iStar Financial.

Newman, a partner at Newman Ferrara, was granted limited rights to oversee the project, including the collection of common charges and sales proceeds, however Judge James Yates allowed lead developer, Ira Shapiro, to continue sales at the 23 East 22nd Street property, at least until a number of legal issues are sorted out.

Yesterday’s move represents a partial victory for Shapiro, the president of Slazer Enterprises, who was facing allegations of forgery by his development partner Marc Jacobs and claims by the lender that millions of dollars in borrowed money was unaccounted for. [more]