NEW YORK CITY-Zimco Holdings, one of the creditors in the developer Trevor Davis' federal bankruptcy case, is requesting the judge to permit court-administered sales at the 1055 Park Ave. high-end condo tower where it owns a $6 million mortgage.
According to the filings, Zimco is arguing that pricing issue with the senior lender of the building at 87th Street has stopped potential deals. Davis failed to repay his $16.3 million senior loan with Wrightwood Capital, who then sold the debt to Park Avenue 1055. For the full story, go to Crain's New York Business.
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