NEW YORK CITY-Joe Moinian and Related Companies have entered into a legal battle over Moinian's redevelopment of the art deco office building located at 1775 Broadway.
Moinian has taken $250 million on the redevelopment project from Related. Related is trying to foreclose on the asset and has plans to build a Nordstroms store in the location after razing the existing tower. The court will decide whether Moinian has to pay $310 million or $250 million. For the full story, go to New York Observer.
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