The New York State Attorney General's Office has order Extell Development to release 41 buyers from their contracts to purchase apartments at the Rushmore condominium tower on Riverside Boulevard because the offering plan had the wrong closing date.
An article by Theresa Agovino in today's edition at crains.com said that sources said that the offering plan said it would offer refunds if the project was delayed and the decision, which can be appealed, means that Extell will be forced to return about $14.5 million in downpayments and will love around $105 million apartment sales in the building.
Previous reports said that Gary Barnett, the president of Extell, said that the date in the offering plan was a "typo."
The Rushmore is the 41-story, twin-towered residential condominium development at 80 Riverside Boulevard that occupies the blockfront between 64th and 63rd Streets.
It is across 64th Street from The Avery, a 30-story condominium development and both are projects of the Extell Development Corporation on land it acquired from Donald Trump, who has developed several residential towers just to the north.
The Rushmore was designed by Costas Kondylis and Partners, the architectural firm that has also designed the Avery and many of Mr. Trump's projects.
The Rushmore has a 16-story base with corner windows at the north and south and a setback at the 4th floor in the center of the blockfront. The twin towers are setback and are joined at the lower three floors.
The 425-foot-high Rushmore has 289 one- to five-bedroom apartments that were priced initially from about $1,000,000 to more than $7,000,000.
The building has have a swimming pool, La Palestrina Fitness and Wellness Services, a 185-car garage, a children's playroom designed by Kidville, NY, a billiards room, Abigail Michaels concierge, a bicycle room, and a theater and entertainment suite.
Residents were offered a choice of three kitchen designs with fixtures by Sub-Zero, Viking, Miele and bathrooms have fixtures by Kohler and Waterworks.
An article by Theresa Agovino in today's edition at crains.com said that sources said that the offering plan said it would offer refunds if the project was delayed and the decision, which can be appealed, means that Extell will be forced to return about $14.5 million in downpayments and will love around $105 million apartment sales in the building.
Previous reports said that Gary Barnett, the president of Extell, said that the date in the offering plan was a "typo."
The Rushmore is the 41-story, twin-towered residential condominium development at 80 Riverside Boulevard that occupies the blockfront between 64th and 63rd Streets.
It is across 64th Street from The Avery, a 30-story condominium development and both are projects of the Extell Development Corporation on land it acquired from Donald Trump, who has developed several residential towers just to the north.
The Rushmore was designed by Costas Kondylis and Partners, the architectural firm that has also designed the Avery and many of Mr. Trump's projects.
The Rushmore has a 16-story base with corner windows at the north and south and a setback at the 4th floor in the center of the blockfront. The twin towers are setback and are joined at the lower three floors.
The 425-foot-high Rushmore has 289 one- to five-bedroom apartments that were priced initially from about $1,000,000 to more than $7,000,000.
The building has have a swimming pool, La Palestrina Fitness and Wellness Services, a 185-car garage, a children's playroom designed by Kidville, NY, a billiards room, Abigail Michaels concierge, a bicycle room, and a theater and entertainment suite.
Residents were offered a choice of three kitchen designs with fixtures by Sub-Zero, Viking, Miele and bathrooms have fixtures by Kohler and Waterworks.
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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