Ira Shapiro dives back into real estate

The notorious developer is consulting on a new Central Park West development

TRD New York /
Aug.August 02, 2014 01:00 PM

 Ira Shapiro, the developer who became the poster boy for boom and bust, is back in the game.

Shapiro notoriously defaulted on hundreds of millions of dollars in loans on One Madison Park, before vanishing from the real estate scene. But now he is working as a consultant on a high-profile condo conversion near Central Park, sources told the New York Daily News.

He is working with Brooklyn developer Joseph Brunner to convert a landmark church at 361 Central Park West into condominiums. Brunner paid $26 million for the site last month, according to the Daily News.

And while Shapiro doesn’t have any of his own money in the deal, he is using the project to eventually begin developing his own properties again. Once his remaining debts are paid and he settles still-pending claims, he says that he hopes to working on a project of his own by next year. [NYDN]Christopher Cameron


Related Articles

arrow_forward_ios

Joseph Brunner sues Ira, Irene Shapiro over 361 CPW

361 Central Park West

Community board rejects 361 CPW church redevelopment

361 Central Park West

Community board zoning committee OKs proposed UWS church redevelopment

Ira Shapiro’s church project suffers setback in committee vote

Brooklyn developer looking to quietly unload UWS church: sources

Questions surround Ira Shapiro’s role in church condo plan

Related looks to wrest control of One Madison

One Mad. rescue plan slated within 2 weeks

arrow_forward_ios