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Site of Arrested Development Remy Finally Snapped Up

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Remember Remy? Even before the economy took a nosedive, the Costas Kondylis-designed cantilevered tower at the corner of Sixth Avenue and 28th Street was stalled for so long the Department of Buildings ordered the foundation filled in to avoid a collapse. You do hate to see that. We assumed Remy had breathed its last, but some much-delayed CPR appears to be on the way. Crain's reports that Lexin Capital has picked up the defaulted loan on the site and is in the midst of foreclosure proceedings. A Lexin exec tells Crain's the company doesn't yet have a plan for the site, so maybe Remy's still got a shot. Look alive!
· After 13 years, firm finally snags an NYC property [Crain's]
· Remy coverage [Curbed]