According to The Real Deal, a five-judge appellate court panel ruled unanimously to allow Maverick Real Estate to foreclose on DAB Group's long-stalled Allen Street hotel project. The ruling effectively ends a three-year battle, during which Maverick acquired the defaulted $5.5 million loan in 2011 and sued to foreclose on the property at 139 Orchard Street. The suit took a dramatic turn back in January when DAB Group owner Ben Zhavian allegedly made death threats against Maverick execs. [TRD, via Bowery Boogie; previously]
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