A lawsuit to foreclose on the WA Condominiums at 2201 Adam Clayton Powell Boulevard at 130th Street in Harlem was filed last Thursday by Banco Popular, according to an article today by David Jones at therealdeal.com.
The action came after the developers, Trevor Whittingham and David Atkinson, defaulted on $13.2 million in loans.
In 2006, they had borrowed $11.1 million to build the six-story, 35-unit residential condominium. They also borrowed a $2 million project loan and a $2.6 million acquisition loan from MTM Realty, which was later assigned to Banco Popular, the article said.
"In October 2009, Galaxy General Contracting, based in the Bronx, filed suit in state Supreme Court alleging it was terminated as a contractor from the project and was met with armed guards when it tried to retrieve its equipment from the property. By February, Galaxy General filed suit to foreclose on $2.75 million in unpaid mechanic's liens. The foreclosure suit alleges the developers failed to get a temporary certificate of occupancy by Nov. 30, 2009, which is the date when the loan matured. The suit alleges the developers also failed to properly secure the property, leading the bank to ask for a court-appointed receiver to oversee the premises," according to the article.
The building was designed by Marc Spector of The Spector Group and is notable for its very distinctive facade on concrete, glass and brick mesh that was intended to create a "Mondrian-like effect."
While the inspiration might be Mondrian's famous "Boogie-Woogie" painting, the overall design is more three-dimensional because of its irregular fenestration in which many windows are slightly protruded but there is little doubt that the building's aesthetic is jazzy and syncopated.
The building has a boldly colored, asymmetrical design with some windows with protruding frames. It has a fitness center with a swimming pool surrounded by a terrace and a rooftop running track. It also has a conference room, 24-hour concierge, a live-in superintendent and a garage.
Apartments range from studios to three-bedroom units and ceilings are 13 to 15 feet high.
The building, which is also known as 163-171 West 130th Street, has video security surveillance and mounted safes for valuables.
The action came after the developers, Trevor Whittingham and David Atkinson, defaulted on $13.2 million in loans.
In 2006, they had borrowed $11.1 million to build the six-story, 35-unit residential condominium. They also borrowed a $2 million project loan and a $2.6 million acquisition loan from MTM Realty, which was later assigned to Banco Popular, the article said.
"In October 2009, Galaxy General Contracting, based in the Bronx, filed suit in state Supreme Court alleging it was terminated as a contractor from the project and was met with armed guards when it tried to retrieve its equipment from the property. By February, Galaxy General filed suit to foreclose on $2.75 million in unpaid mechanic's liens. The foreclosure suit alleges the developers failed to get a temporary certificate of occupancy by Nov. 30, 2009, which is the date when the loan matured. The suit alleges the developers also failed to properly secure the property, leading the bank to ask for a court-appointed receiver to oversee the premises," according to the article.
The building was designed by Marc Spector of The Spector Group and is notable for its very distinctive facade on concrete, glass and brick mesh that was intended to create a "Mondrian-like effect."
While the inspiration might be Mondrian's famous "Boogie-Woogie" painting, the overall design is more three-dimensional because of its irregular fenestration in which many windows are slightly protruded but there is little doubt that the building's aesthetic is jazzy and syncopated.
The building has a boldly colored, asymmetrical design with some windows with protruding frames. It has a fitness center with a swimming pool surrounded by a terrace and a rooftop running track. It also has a conference room, 24-hour concierge, a live-in superintendent and a garage.
Apartments range from studios to three-bedroom units and ceilings are 13 to 15 feet high.
The building, which is also known as 163-171 West 130th Street, has video security surveillance and mounted safes for valuables.
Architecture Critic
Carter Horsley
Since 1997, Carter B. Horsley has been the editorial director of CityRealty. He began his journalistic career at The New York Times in 1961 where he spent 26 years as a reporter specializing in real estate & architectural news. In 1987, he became the architecture critic and real estate editor of The New York Post.
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