$500M Sale Of NYC Building Can Go Forward: Judge

Law360, New York (December 20, 2011, 5:46 PM EST) -- A New York state judge said Tuesday that the $500 million sale of a Manhattan commercial building can go forward as long as the sellers set aside $7.7 million in escrow to cover a judgment against one of the sellers.

The sale — scheduled for Friday — of the commercial building in Manhattan's Chelsea neighborhood became embroiled in a dispute between one of the building's owners, Yair Levy, and a 300-unit condominium building in the Battery Park City neighborhood of Manhattan, which earlier this year won...
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