NEW YORK CITY-Menolly has tapped Cushman & Wakefield Inc. to market a development parcel at 950 Second Ave. situated between 50th and East 51st streets. The Irish homebuilder had purchased the parcel in 2007 but it never constructed on it.
Menolly holds $40 million in loan on the site, but it is not clear whether the homebuilder is in default or not. The Tempo, a residential condominium building having 103 units at 300 E. 23rd St., was developed by Menolly.For the full story, go to Crain's New York Business.
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