Deny Swig $53M Condo Sale Proceeds, Developers' Atty Says

Law360, New York (November 13, 2013, 6:24 PM EST) -- Real estate mogul Kent Swig isn't entitled to any of the $53 million that improved market conditions have reaped for a midtown Manhattan condo conversion project, an attorney for the project's other investors told a New York state judge during a hearing Wednesday.

The dispute centers on the Sheffield, an 845-unit residential tower near Columbus Circle, just off the southwest corner of Manhattan's Central Park. Swig, along with real estate developer Serge Hoyda and others, originally created a joint venture to convert the building's rentals into...
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