Love Lane Mews Partner Gets Bought Out
The developers that joined together in order to build 38 apartments and two townhouses in Brooklyn Heights appear to have gone their separate ways. The Zucker Group paid $10 million to Sterling Equities for the parcels that comprise Love Lane Mews, according to public records, presumably dissolving or greatly diminishing Sterling’s role in the project….
The developers that joined together in order to build 38 apartments and two townhouses in Brooklyn Heights appear to have gone their separate ways. The Zucker Group paid $10 million to Sterling Equities for the parcels that comprise Love Lane Mews, according to public records, presumably dissolving or greatly diminishing Sterling’s role in the project. Calls to the Zucker Group for comment were not returned. Interior demolition of the former parking garages that make up part of Love Lane Mews is under way. The development was announced in early 2007 but has been taking shape very slowly. Maybe the recent property transfer will help speed it up.
Development Watch: Love Lane Mews with Skylight Views [Brownstoner] GMAP
Development Watch: Love Lane Mews Floorplans Revealed [Brownstoner]
…and Willie’s contract is 13M, if memory serves.
Wilpons just made 10M profit as the property was owned free and clear.
11:31, you beat me to it!
Seriously, the Wilpons must have seen the article on Walentas having to rent out parts of 110 Livingston and decided they’d rather have the cash in hand, thank you very much.
Sterling has to raise cash so it can afford to pay Willie Randolph and his replacement, Jerry Manuel.
Yeah, get on with it already!