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]