PB Capital, the American subsidiary of Deutsche Postbank, was granted a receiver last month to oversee Sorrento New York, a stalled 43-story condominium and extended-stay hotel that is the subject of an $84 million foreclosure suit. The Ismael Levya-designed tower, at 306 West 48th Street, was developed by Manhattan-based Esplanade Capital led by Jay Eisenstadt and David Scharf. Investors Donald and Kevin O‘Sullivan were named as the guarantors of $84 million in loans for the newly constructed project, which was scheduled to include extended-stay housing under the BridgeStreet Worldwide hotel brand…. [more]