Affordable housing developer sues Silverstein, Moinian

Atlantic
Development Group, one of the city’s largest affordable housing
developers, filed lawsuits against developers Larry Silverstein and the
Moinian Group. Atlantic, which is under investigation by the Manhattan
District Attorney’s office, is suing the developers for allegedly
failing to deliver money that Atlantic planned to use to build
low-income housing projects in Hell’s Kitchen and the South Bronx. In
the two separate filings, Atlantic is seeking $3 million from Moinian
and an unspecified amount from Silverstein. “These were firm contracts
on which Atlantic made commitments to build affordable housing and it
is merely trying to collect the damages rightfully due by contract,”
said an Atlantic spokesperson in a statement.