NEW YORK CITY-Lawyers representing developer Trevor Davis will appear in New York State Supreme Court after the developer filed a suit to stop Zimco Holdings, the lender, from illegally foreclosing his six-unit property at 1055 Park Ave.
Davis received $14.9 million in mortgage loans from Wrightwood Capital and a $6 million second mortgage from Zimco for his 12-story condo at the corner of 87th Street in Carnegie Hill. Wrightwood sold the loans to Park Avenue 1055 in November 2010. For the full story, go to Crain's New York Business.
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