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Attorney General Taking Yet Another Look at The Apthorp

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Attorney General Andrew Cuomo gave the Upper West Side's Apthorp the thumbs-up months ago, allowing the building's much-discounted closings to finally start happening. Maybe the troubled condo conversion was finally thinking things were going its way. But never mind, because Cuomo's back! This time, the Journal reports, he has his eye on an agreement between the developer and the lender and will decide whether potential buyers need to be informed oft it. (We're guessing that cat's out of the bag.) The agreement allows the developers to use up to $130 million in proceeds from sales for building operation and renovations, and the developers have also gotten another three years on their loan. The loan extension means a new set of sales targets?the last one brought us Dolly?for the developers. Nineteen apartments have closed so far, many with sizable price cuts. Time for another celebrity sighting?
· Cuomo Reviews New Apthorp Deals [WSJ]
· Apthorp coverage [Curbed]

Apthorp Building

390 West End Avenue, New York, NY 10023