Wednesday, February 25, 2009

"Fifth On The Park" Development Company Files Bankruptcy- From the email inbox this afternoon, comes word from Crain's New York, that developer Uptown Partners, whose buildings include Fifth On The Park, has filed bankruptcy. Co-founder and partner Lewis Futterman explains that this is a temporary situation and has noting to do with Fifth On The Park, which is quite healthy (better than 60% sold). Further he explains that "we had another debt due with severe consequences that we could not complete negotiation in time". He expects to pull the bankruptcy filing in the next week.

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