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111 West 57th Street, JDS, Property Markets Group (PMG) and Spruce Capital's skinny SHoP Architects-designed supertall which is now rising on Billionaires' Row, has officially launched sales. Sales and marketing are being exclusively overseen by Douglas Elliman Development Marketing.
Gamma Real Estate' 800' 3 Sutton Place residential tower designed by architect Foster + Partners has now been approved by the Board of Standards and Appeals and construction can restart after the developers were forced to seek rezoning to complete the project.
There is more drama at 111 West 57th Street, JDS and Property Markets Group's skinny SHoP Architects-designed supertall which is now rising on Billionaires' Row. Corcoran Sunshine Marketing Group, who was originally hired as the firm to lead pre-construction sales, has now sued the development team for breach of contract.
Two developers, Cenpark Realty and the Brodsky Organization, have been fined a combined $90,000 by the city for claiming false vacancy in their buildings during renovation. Property owners of occupied buildings are supposed to protect residents from the ramifications of construction, like dust and noise, by submitting a tenant protection plan.
Wu Xiaohui, the former Anbang Insurance Group chairman and one of Manhattan's most prolific real estate investors, has been sentenced to 18 years in jail in addition to a $1.65 billion asset seizure after being convicted by Chinese authorities for fraud and embezzlement.
Linda Macklowe, the estranged wife of Harry Macklowe, the developer behind Macklowe Properties and 432 Park, have battled over a $2 billion divorce largely in the public eye since Linda filed in June 2016. In September 2017, Linda sued both Macklowe Properties and CIM Group.
Special Counsel Mueller's investigation may not have turned up any evidence of collusion between the Trump Campaign and Russia, but it did lead to the indictment by a federal grand Jury of Paul Manafort and business associate Rick Gates on October 27, 2017 on 12 counts of alleged financial crimes.