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New York

Five Franklin Place for sale?

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Developer
Sleepy Hudson may be selling its planned condo development at Five
Franklin Place, where the foundation and first floor are currently in
place. Curbed reports that brokerage firm
Cornerstone Property Group is marketing Five Franklin Place, which is between Franklin and White streets.
According to
a Cornerstone document, the project is in default on its $28.25 million
acquisition loan. The property was acquired in 2006 for $36.6 million
and is now on the market for $19.5 million.