Windermere sells, suits settled

The Windermere has been sold to Windermere Property LLC, a company that has made an agreement with the city to repair the landmarked building. The Real Deal reported a month ago that former owner and Tokyo-based developer Toa Construction had reached a tentative deal with Windermere Property. Windermere Property has promised to temporarily stabilize the building, at 400-406 West 57th Street, at Ninth Avenue, and then perform long-term repairs. The building’s tenants sued Toa in 2007 and the city filed a suit against the developer in 2008 in an effort to force Toa to make repairs. Both suits were settled this week as a condition of the sale.