So far, so good for the planned $180 million sale of the Domino sugar refinery site to Two Trees Management. One of the owners of the site, Katan, partner of another owner, CPC, has been trying to block the sale in court, but Friday the Supreme Court of the State of New York for Kings County threw out one of two lawsuits, Crain’s reported. Some reasons: Katan did not have right of first refusal, and breach of contract. Katan already lost another case earlier against CPC for mismanagement and diluting its ownership stake. The deal is supposed to close sometime next month. (It’s not clear if the court will get to the other suit before the sale closes.) The original plan called for a mixed-use development with 2,200 apartments (30 percent affordable).
Court Nixes Effort to Block Sale of Domino Site [Crain’s]
CPC Escapes Ex-Partner’s Lawsuit Over Domino Deal [TRD]
Photo by asfseventy3


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