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Upper East Side's Honore Held Up By Foreclosure

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Only a few months ago, we were ready to call 2006 on The Honore, the 25-unit-plus-retail development planned for the site of the demolished Kean Residence (R.I.P.) at Lexington and East 65th Street. But now, The Real Deal reports, project investor Davis Development faces foreclosure on the project after missing a $94,800 mortgage payment last month. The lender wants Davis Development's Trevor Davis to fork over $19.5 million to take care of mortgage payments, interest, and late charges, or the project might get taken over. Davis insists that the Honore will go on: "The project on 65th street is going ahead. Construction is underway." The Friends of the Upper East Side Historic Districts profoundly hope not.
· Davis hit with $17M suit at Kean site [Real Deal]
· Where Kean Residence Once Stood on UES, The Honore Grows [Curbed]