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Scarano-Designed LIC Tower Being Foreclosed?

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It looks like there will be one less Robert Scarano tower in Long Island City to kick around. A development known as Tower 56, which isn't far from another Scarano-designed project called the Vere, is in bankruptcy. The 20-story building with 120 units was reported in bankruptcy by the Real Deal. It was being developed by Rosma Development south of Court Square in LIC. The first plans for the 321-foot foot tall tower, an early rendering of which appears here (click to expand), were filed in 2005 and building permits were issued in June, but no work has taken place. The Scarano tower would have risen near the Sunnyside rail yards. It's unclear whether the Scarano is in real trouble with lenders or whether the developers are just facing a temporary cash flow glitch.
· Scarano project in LIC facing foreclosure [TRD]
· Tower 56 [Wired New York Forum]