Last week Broken Angel creator Arthur Wood had his latest day in court over his Clinton Hill building, which has faced foreclosure pressure for the past few years. The Local reports that on Friday a judge “agreed to consider a related fraud case brought by Mr. Wood against his lender” in the next 30 to 60 days, which means that the foreclosure sale has also been delayed. A lawyer for Wood’s lender, Madison Realty Capital, said he thinks the firm will win the case. According to the story, Wood’s lawsuit against Madison Realty dates back to 2009, after Wood and his development partner Shahn Anderson defaulted on a $4 million mortgage and Madison Realty initiated foreclosure proceedings.
Arthur Wood Beats Foreclosure — For Now! [The Local]
Broken Angel is Officially Broke [Brownstoner]
Photo by Hobo Matt


What's Your Take? Leave a Comment

    1 2 3