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.


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