Les Leviev's Africa Israel USA has taken control of management and sales for 20 Pine Street - The Collection, according to an article in today's on-line edition of therealdeal.com by David Jones.
The company had partnered with Shaya Boymelgreen on the conversion of the former office building in the Financial District adjacent to One Chase Manhattan Plaza to 409 residential condominium apartments.
"We are now overseeing the construction and have invested additional capital for the completion of the amenities by June 1," the company said in a statement in the article, adding that it is "taking new positions on the condominium board and communicating with homeowners to provide them with regular updates on construction."
The partnership, which had been called Leviev Boymelgreen, acquired the former JP Morgan headquarters from the Resnick and Reuben real estate families for $142 million in 2005, but construction stopped early this month on the building's common areas to focus on completing 50 apartments in the tower, according to a statement in the article by Michael Shvo, who is marketing the building. Mr. Shvo was also quoted as stating that the building's 30,000 square feet of amenities were only 50 percent completed.
Last month, Mr. Leviev settled a well-publicized dispute with Maurice Mann over the conversion of the famous Apthorp apartment building on the southwest corner of Broadway and 79th Street with the appointment of the Feil Organization as managing agent.
The company had partnered with Shaya Boymelgreen on the conversion of the former office building in the Financial District adjacent to One Chase Manhattan Plaza to 409 residential condominium apartments.
"We are now overseeing the construction and have invested additional capital for the completion of the amenities by June 1," the company said in a statement in the article, adding that it is "taking new positions on the condominium board and communicating with homeowners to provide them with regular updates on construction."
The partnership, which had been called Leviev Boymelgreen, acquired the former JP Morgan headquarters from the Resnick and Reuben real estate families for $142 million in 2005, but construction stopped early this month on the building's common areas to focus on completing 50 apartments in the tower, according to a statement in the article by Michael Shvo, who is marketing the building. Mr. Shvo was also quoted as stating that the building's 30,000 square feet of amenities were only 50 percent completed.
Last month, Mr. Leviev settled a well-publicized dispute with Maurice Mann over the conversion of the famous Apthorp apartment building on the southwest corner of Broadway and 79th Street with the appointment of the Feil Organization as managing agent.
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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