The lawsuits over the ever-crazier One Madison Park have been a little dry lately, focused on financial and ownership disagreements. But there's a new court battle on East 23rd Street, and not surprisingly, the lawsuit that's caught our attention involves the same folks who manage to make french fries mysteriously addictive. The latest suit, explained in Crain's, requires us to journey back to a happier, boomier One Madison Park. Step into our time machine and step back out in 2007.
According to the lawsuit filed by building lender iStar financial against the developers last June, the building that used to stand on the One Madison Park site included a McDonald's. When developer Ira Shapiro took over the site, he promised Mickey D's a retail space in his new building (making for the second set of golden arches in a luxury condo in the vicinity). But Shapiro allegedly never wanted fries with that.
Instead, Shapiro promised to buy the building next door, 26 East 23rd Street, and put McDonald's into the space where there was once a Wendy's. That building has now been in contract for close to $13.8 million since 2007. But 26 East 23rd Street owner Flamingo LLC alleges in a fresh lawsuit that the developers of One Madison Park claimed they already owned the building so that they could demolish two floors and install a support structure on top. The building is now half its previous square footage. Flamingo would like to supersize that.
· One Madison Park developers sued over demolition [Crain's]
· One Madison Park coverage [Curbed]