"Loews is trying to work out its financial difficulties," Rubenstein says. "We are continuing to talk with them as well as pursue other options."
He reveals that Tishman recently realized that financing of the 400,000-sf project "could not be structured due to Loews current financial situation." Loews was to build a 21-screen movie, 5,100-seat theater at the development on Mamaroneck Ave., and Main St. Another lead tenant at the project will be a Target department store.
Tishman had hoped to begin demolition of the vacant Macy's department store this month.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
