A troubled condominium conversion in South Harlem has been hit with over $1 million in default penalties on a construction loan. But the project’s developer says it was never informed it was in delinquency. Madison Advisory Group, the owner of 320 West 115th Street, filed a complaint in New York State Supreme Court on Monday, alleging it was “wrongfully charged” by lender Avant Capital Partners. Madison is looking to recover those default fees. The group […]
source https://therealdeal.com/2018/10/02/developer-of-troubled-condo-conversion-in-harlem-is-now-fighting-its-lender/
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