Thursday, 2 April 2020

Court ruling is new twist to Manhattan hotel project drama

A judge has temporarily barred the transit system from halting work at a Manhattan hotel. The decision was a muted victory for the developer, Peter Zen’s FIT Investment Corp., though, given that the state has now shut down most types of construction. But the ruling raises questions about whether projects with “essential” components should also be exempt from the Cuomo administration’s new restrictions on construction. Back in January, the Metropolitan Transportation Authority ordered FIT Investment



source https://therealdeal.com/2020/04/02/court-ruling-is-new-twist-to-manhattan-hotel-project-drama/

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