Deal between Senegal, New York City developers reached

TRD New York /
Nov.November 30, 2009 06:27 PM

After filing a fiery suit against Senegalese government officials over a building sale gone awry, a pair of developers has dropped its complaint. New York City developers Hotel 44th St. LLC and East 46th Street Development Co. had filed suit against the government of the Republic of Senegal Nov. 9, alleging that the defendant had agreed to purchase a building at 227-235 East 44th Street between Second and Third avenues but had failed to make payments. The angrily-worded suit, which referred to Senegal as a “deadbeat,” was meant to dissuade “anyone thinking of doing business with Senegal,” the plaintiffs said. But, just nine days after the suit was filed, the Senegalese government and the developers reportedly renegotiated the price to $24 million, down from the initially-agreed upon figure of $27 million, and closed the deal. The developers subsequently dropped the suit. The site will be used for the Maison du Senegal, the African nation’s mission to the United Nations.

Related Articles

(Image by Wolfgang & Hite via Dezeen)

Hudson Yards megadevelopment inspires a new line of sex toys

Cammeby's International Group founder Rubin Schron and, from top: 194-05 67th Avenue, 189-15 73rd Avenue and 64-05 186th Lane (Credit: Google Maps)

Ruby Schron lands $500M refi for sprawling Queens apartment portfolio

Wendy Silverstein (Credit: Getty Images)

Wendy Silverstein, co-head of WeWork’s real-estate fund, is out

Cristiano Moura (Credit: Christie’s Real Estate and iStock)

Viral Instagram post leads to arrest, assault charge for former Christie’s agent

Amazon CEO Jeff Bezos and Hudson Yards (Credit: Getty Images and Wikipedia)

Amazon takes big new office space near Hudson Yards

A&E Real Estate Holdings principal Douglas Eisenberg and the properties (Credit: The Rego Park 18 Portfolio)

Deutsche Bank provided A&E $97M in financing for big Rego Park buy

Billy Macklowe and Key Food at 120 Fifth Avenue in Brooklyn (Credit: Getty Images and Google Maps)

Billy Macklowe looking to break into Brooklyn

From left: Daniel Shirazi, and Robert Khodadadian, with 530 West 25th Street

Feil Organization buys Chelsea office building for $72M