A tenant at 55 Broad Street—a Financial District tower about to undertake one of the largest office-to-apartment conversions in NYC—has filed a lawsuit seeking to block the conversion project, claiming it's a violation of their lease.
The tenant trying to block the residential conversion is a residential landlord who has an 11K SF office in the building: Solstice Residential Group.
Solstice in a lawsuit filed last week branded the adaptive reuse project at 55 Broad undertaken by Silverstein Properties and Metro Loft Management "extremely disruptive and dangerous" to the company.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.