Lehman files suit to foreclose on Swig’s 45 Broad Street

The Observer
reports that Lehman Brothers has filed suit to begin foreclosure proceedings on Kent
Swig’s 45 Broad Street. The foreclosure proceedings began yesterday, and Swig and 45 Broad LLC are named in the suit, along with other
organizations that have filed liens against Swig. Swig had been
planning to build a 62-story Nobu Hotel and Residences on the property,
with 77 luxury condos, 128 hotel rooms and 13,000 square feet of retail.