Harlem’s Lenox Condo files for Chapter 11

The Lenox Condominium at 380 Lenox Avenue on the corner of 129th Street in Harlem has filed for Chapter 11 bankruptcy protection, according to Crain’s, after missing the due date for its $10 million mortgage on unsold apartments. Developer Uptown Partners, which filed for bankruptcy early last year (note: correction appended), said that it has applied for a loan extension with its lender and that the company is hopeful the situation will be resolved soon. “We had to temporarily protect our rights to give us enough time to negotiate and get apartments sold,” Lewis Futterman, Uptown Partners co-founder, said. “We are inches away from a settlement with the bank. I would be surprised if this filing is not withdrawn in three weeks.”