The Real Deal New York

Posts Tagged ‘patriot’

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    A masonry wall still stands where a plate-glass retail facade was planned to debut in July at 344-46 West 14th Street

    The developer rehabilitating a Meatpacking District apartment building
    to include retail is accusing its lender of trying to take over the
    project through illegal activities, in a new $20 million lawsuit. The developer, 344-46 West 14th Associates, claims in the lawsuit filed
    Aug. 26 in New York State Supreme Court that the lender, Connecticut
    hedge fund Patriot Group, is trying to wrest control of the delayed and
    over-budget project at 344-46 West 14th Street near Ninth Avenue by
    refusing to allow outside financing and telling contractors that money
    to pay them had run out. The developer is claiming breach of contract; interference with contracts; fraud and other charges, and is seeking $20 million in compensatory damages, the suit says. [more]

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