Long Island City's ever-troubled Crescent Club is moving into a new phase thanks to investor Charles Dayan, who has just purchased the building for $85 million. He's buying it from the developers who acquired the property in 2011, and they picked it up after the original developer defaulted on the mortgage. The building was built as a condo, but now it's trying to cash in on the LIC rental market instead. Quite the saga. ['Stoner Queens; previously]
Filed under: