building at 220 Saint Nicholas Avenue

what is going on with this??????

Not sure why 421a is only 15yr on this building, most in the area are 25yr. Wish they had put parking in the basement, then building would really be elite. Are they selling units?

Does anyone have any information about the status of this building?

Passed this building again today. Still unfinished! The original developer had financial issues http://harlembespoke.blogspot.com/2011/07/revive-whats-up-with-220-st-nicholas.html and I wonder if the developer went bankrupt.

The developer, a first-timer inexperienced guy, borrowed almost $8M in 2008 from a bank that went bust in 2010. Sheila Bair took over it on March 2010.

So if he needed more financing he run into trouble right there.

Former President of the Park Avenue Bank Pleads Guilty in Manhattan Federal Court to Fraud on the TARP, Securities Fraud, Self-Dealing, Bank Bribery, and Embezzlement of Bank Funds

http://www.fbi.gov/newyork/press-releases/2010/nyfo100810.htm

The charges to which ANTONUCCI pled include securities fraud relating to ANTONUCCI's attempt to fraudulently obtain more than $11 million worth of taxpayer rescue funds from the Troubled Asset Relief Program ("TARP"), bank bribery, embezzlement of bank funds, and participating in a $37.5 million scheme that left an Oklahoma insurance company in receivership.

Manhattan U.S. Attorney PREET BHARARA said: "Today's guilty plea, the first ever conviction for fraud against the TARP, should send a strong message to all those who would attempt to loot the public fisc or steal from our financial institutions: This Office and our law enforcement partners will be watching. Whether you are a bank teller or a bank president, you are not above the law."

Wonder how many other developments did the Park Avenue Bank finance...