The former Toy Building at 1107 Broadway and developer Yitzchak Tessler (building photo source: PropertyShark)

Developer Yitzchak Tessler is facing multiple challenges in his effort
to hold on to the condominium conversion project at the former Toy
Building at 1107 Broadway overlooking Madison Square Park. The
bankrupt lender Lehman Brothers Holdings sued Tessler and his company
1107 Broadway LLC yesterday to foreclose on a $136.8 million senior
loan. [more]