Bank Sues Caton Place Developer

Four months after worked stopped on his Karl Fischer-designed building, 23 Caton Place in Kensington, developer Moshe Feller got some more bad news: he’s being sued by Corus Bank. The Real Deal reported that they lent Feller $32.8 million in 2006 for the 107-unit building, and apparently they want it back. For now, the building seems to be largely abandoned, with security guards posted to keep snoops out. (At least one spy has been gathering information anyway). This isn’t the first time the building’s seen trouble. We reported last September that laborers weren’t allowed to celebrate Labor Day with the rest of us, and in April, the DOB issued a stop work order. A few complaints have trickled in since. Fischer himself seems to have little information on it. “I suspect it had to do with the financial crunch,” he told The Real Deal. Well, yeah. A meeting is to be held on August 25th. Anybody have more specific info?
Brooklyn Developer to Face Bank in Condo Default Case [The Real Deal]
Hot Karl Goes Ice Cold [Curbed]
Work Stops at Caton Place Condos [Brownstoner]
At 23 Caton Place, Laborers Labor on Labor Day [Brownstoner]
Photo by iquirty