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The Alexico Group reduced the number of coo-op apartments at The Mark on the northwest corner of Madison Avenue and 77th Street from 42 to 10 last summer and only two of those have sold, according to an article yesterday in The New York Post by Annie Karni.
One of the sold apartments is the subject of a law suit brought by Shalva Chigirinsky, who had co-owned the Moscow Oil Company with the Russian government when he agreed in April 2008 to pay about $5,000 a square foot for a three-bedroom penthouse in the building, which also contains about 150 hotel rooms, the article maintained.
The article said that Mr. Chigirinsky was suing the hotel to get out of his $15.75 million contract to buy the apartment and get back his $4 million deposit.
"Last year," the article stated, "Chigirinsky, 60, reportedly fled Russia after all of his assets were seized by his creditor, Sibir Energy. The suddenly cash-strapped mogul had to pledge his villa in the French Riviera, as well as the proceeds from the sale of his London mansion, to the company. He was also implicated in a tax-evasion probe and sought political asylum in England, according to published reports."
Mr. Chigirinsky filed suit against the building's owners, Alexico, of which Izak Senhabar and Simon Elias are principals, last week in Manhattan Supreme Court, the article said, adding that his complaints were described by Alexico as nothing more than poorly disguised buyer's remorse and "a patently desperate, losing effort."
The Attorney General's Office already rejected Chigirinsky's first attempt to recoup the $4 million down payment and declared him in default, according to the article.
The beige-brick Mark, which was erected in 1927 and designed by Schwartz & Gross, has one of the city's most distinctive roofs, a copper-clad sloped pyramid cut off at the top.
The building is directly north of the Carlyle Galleries Building at 980 Madison Avenue where Aby Rosen, the owner of the Seagram Building and Lever House, was unable to get a certificate of appropriateness from the Landmarks Preservation Commission for a design he commissioned from Sir Norman Foster for a silvery glass cylindrical tower roof addition placed at the northern end of the building right across from the entrance to The Mark. Mr. Rosen subsequently received approval from the commission for a much lower roof addition.
Alexico acquired the leasehold interest in the building for about $150 million from Mandarin Oriental Management.
One of the sold apartments is the subject of a law suit brought by Shalva Chigirinsky, who had co-owned the Moscow Oil Company with the Russian government when he agreed in April 2008 to pay about $5,000 a square foot for a three-bedroom penthouse in the building, which also contains about 150 hotel rooms, the article maintained.
The article said that Mr. Chigirinsky was suing the hotel to get out of his $15.75 million contract to buy the apartment and get back his $4 million deposit.
"Last year," the article stated, "Chigirinsky, 60, reportedly fled Russia after all of his assets were seized by his creditor, Sibir Energy. The suddenly cash-strapped mogul had to pledge his villa in the French Riviera, as well as the proceeds from the sale of his London mansion, to the company. He was also implicated in a tax-evasion probe and sought political asylum in England, according to published reports."
Mr. Chigirinsky filed suit against the building's owners, Alexico, of which Izak Senhabar and Simon Elias are principals, last week in Manhattan Supreme Court, the article said, adding that his complaints were described by Alexico as nothing more than poorly disguised buyer's remorse and "a patently desperate, losing effort."
The Attorney General's Office already rejected Chigirinsky's first attempt to recoup the $4 million down payment and declared him in default, according to the article.
The beige-brick Mark, which was erected in 1927 and designed by Schwartz & Gross, has one of the city's most distinctive roofs, a copper-clad sloped pyramid cut off at the top.
The building is directly north of the Carlyle Galleries Building at 980 Madison Avenue where Aby Rosen, the owner of the Seagram Building and Lever House, was unable to get a certificate of appropriateness from the Landmarks Preservation Commission for a design he commissioned from Sir Norman Foster for a silvery glass cylindrical tower roof addition placed at the northern end of the building right across from the entrance to The Mark. Mr. Rosen subsequently received approval from the commission for a much lower roof addition.
Alexico acquired the leasehold interest in the building for about $150 million from Mandarin Oriental Management.
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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