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Lender Wants to Foreclose on Planned West Side Condo-Hotel

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Looks like we'll have to defer the dream of a hotel-condo at 301 West 46th Street, rendered at right, for a while. The Real Deal reports that lender Glenwood Management has sued to foreclose on loans to the site's developer, Tribeach Holdings. Even though all that's on the site now is vacant land, a parking lot, and a mixed-use building, we care because Tribeach had planned to put a 38-story tower there, with 35 condos, 375 hotel rooms, rental apartments, a pool, and a bar and restaurant. The project, which never received Department of Buildings approval, was originally set to finish up in, er, 2010. Whoops! Glenwood acquired the $78.6 million in loans from the original lender in September and refused to comment on what it planned to do with the site. Which gives our imaginations free reign until we find out the truth.
· Glenwood sues to take over West Side development site [Real Deal]