André Balazs Checks Out of Temple Court at 5 Beekman

Hotelier of and to the stars André Balazs has checked out of any Temple Court projects at 5 Beekman Street. Balazs may have even forfeited $5 million of his own money, when financing to turn the atrium-enclosed downtown building into a hotel dried up. A separate source told the Post that trouble with financing wasn't the case, and that Balazs pulled out of the deal before Christmas for other reasons. Balazs entered into contract for the purchase of 5 Beekman back in October, to much general excitement. The address was a boarded-up non-entity for years until it reached widespread attention via a post at Nick Carr's ScoutingNY.

· André Loses Temple Deal [NYP]
· 5 Beekam Street [Curbed]