Among the many problems at One Madison Park ?missing money, buyer refunds, forgery accusations?was this: thanks to the foreclosure proceedings at the building, the developer was required to stop selling units. But that little hurdle's been removed. The Real Deal and the Observer report that a judge has ordered that a receiver be appointed and sales resumed at the 60-story condo tower.
Apparently there are enough prospective One Mad Park buyers chomping at the bit to make that really good news. "We have a lot of buyers that are waiting for resolution so they can move forward because they love the building so much," broker Tamir Shemesh tells the Observer. One Madison Park's online listings haven't been reactivated yet (nor has the promised new website), but 13 apartments in the 69-unit building have closed. One legal problem taken care of! Next?
· One Madison Park to Receivership; Flood of Sales to Come? [NYO]
· One Madison Park gets interim receiver [Real Deal]
One Madison Park coverage [Curbed]