EAST WILLIAMSBURG - DEMOLITION WAS SET to begin Feb. 2 at Brooklyn Mirage after approval by the New York City Department of Buildings and Brooklyn Community Board 1, according to . The teardown is expected to cost $1.5 million and finish in April or May, potentially colliding with court papers stating a Spring 2026 return under tentative new owner Axar Capital Management.
The bidders do not include the usual suspects, such as Big Oil giant Exxon Mobil or major refiner Phillips 66. Instead the finalists are activist investor group Elliott Investment Management, Canada-listed miner Gold Reserve, and an upstart special-purpose acquisition company named Blue Water. The latter is led by a biotech investor and a long-shot New York mayoral candidate pledging to take Citgo public.
Milton's ongoing fight against the subpoena issued by creditors of his bankrupt electric trucking company raises questions about his financial transparency amid ongoing legal battles.