Mission Impossible? Businesses Close At Central Park Tower After Chronicles Of Clients Failing And More

All businesses in Central Park Tower in the West Village, a project on which we recently wrote a story, are closed for business, as of Wednesday. “The ongoing history of this building does not…

Mission Impossible? Businesses Close At Central Park Tower After Chronicles Of Clients Failing And More

All businesses in Central Park Tower in the West Village, a project on which we recently wrote a story, are closed for business, as of Wednesday.

“The ongoing history of this building does not suit the current reality of the marketplace,” CIC Capital and Wanda Group said in a joint statement. “The fact that we have not been able to finalize the lease with Wanda Group and Wanda’s termination of its management contract with us is most unfortunate. We are disappointed with the outcome, but the team of real estate professionals who negotiated the lease will work hard to find another anchor tenant for the tower and are confident we will find someone to take that anchor position.”

As the Rockefeller Group is now looking for another tenant to take over CIC and Wanda’s lease, the development’s former developer, Daniel Gribbins, continued to fight back with court papers against the financial news website Quartz.

Mr. Gribbins’ former loan servicer, LNR Partners, asserted in a court filing this week that the journalism outlet owed the consortium $2.5 million for unpaid rent, escrow and special assessments. In its reply, Mr. Gribbins’s attorneys argued that the $2.5 million amount is incorrect, because LNR had made several new leases for Quartz, which had not been collecting rent from CIC or Wanda before the site opened.

For our story on the State Street Tower debacle — where newsstand owners are closing and residents are homeless after a mammoth renovation — we interviewed Verner Teale, a 59-year-old tobacco wholesaler, who told us about the sudden change at his corner store, the Judge & Rowe, which sits in a strip mall of five separate storefronts.

“I never thought I’d be up at 5:30, waiting for a light to change,” he said. “But that’s what we’re doing.”

Leave a Comment