A hotel-to-apartment conversion in Columbus Circle faced foreclosure and is now embroiled in a lawsuit from lender Parkview Financial, citing construction mismanagement. Parkview alleges the cofounders of CSC, Alberto and Salomon Smeke Saba, did not address city issues to proceed with construction. Tenants reported poor living conditions which led to a stop-work order by the city. CSC is working to resolve these issues and has presented to the community board for project approval, but claims of failing to meet loan maturity deadlines persist.
Los Angeles-based Parkview Financial claims that the cofounders of CSC, Alberto and Salomon Smeke Saba, failed to address issues with the city that would allow work to move forward.
Construction began soon after the hotel purchase, but problems arose approximately a year later, leading to complaints from tenants about pest control and exposed wiring.
Collection
[
|
...
]