Developer behind Tribeca hotel says Ponte family forced partnership into bankruptcy

Tribeca’s upcoming “Hotel Barrière Le Fouquet” seems to have encountered a barrière. The partnership behind the 96-key luxury hotel development at 456 Greenwich Street filed for Chapter 11 bankruptcy protection on Thursday, claiming that it was necessary to protect its investment after its landlord made it impossible to secure financing for the project. “The partnership has been in discussions with various lenders to complete the project financing, but the landlord’s President, Vincent J. Ponte, has […]

source https://therealdeal.com/2019/03/15/developer-behind-tribeca-hotel-says-ponte-family-forced-partnership-into-bankruptcy/

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