No plans for Solow’s East Side site

December 23, 2008 07:57AM

Last week, Citibank filed an $86 million lawsuit against Sheldon Solow for failing to pay back loans and letters of credit issued in 2004 to finance a development project along First Avenue, between 38th and 41st streets, where construction has not started. Solow has not filed any building plans with the city for the former Con Ed site, where he spent $100 million to demolish old power plants. In March, the City Council approved a version of Solow’s plan, which calls for 3,000 new apartments, a 1 million-square-foot office tower and 69,000 square feet of retail space.


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