Resistance from neighboring landlords is stalling some developments. Trinity NYC Hotel LLC said hasn’t been able to secure permissions from its neighbor to begin work on an Aloft-branded hotel, Crain’s New York reported. The company purchased the vacate site at 50 Trinity Place for $15 million in 2012 with plans for a 173-room hotel. In a lawsuit, Trinity NYC Hotel claimed William Koulmentas, the owner of 11 Rector Street, has asked for unreasonable sums of […]
source https://therealdeal.com/2018/08/31/hotel-developer-sues-neighbor-alleging-a-shakedown/
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