Maverick can proceed with Gorham Building foreclosure
Last month, a court ordered Maverick Real Estate Partners to pause a potential foreclosure on the Gorham Building. That protective shield for ownership is gone. This week, a judge denied an injunction to prevent foreclosure of 390 Fifth Avenue in Midtown Manhattan, Crain’s reported. The decision opens up the door for Maverick to start proceedings against Fred and Robert Schwalbe. It’s a quick reversal for the Schwalbes. Last month, the borrowers scored a temporary win that saw the court halt any foreclosure. They accused a Maverick affiliate of using “vulturous tactics” by agreeing to take a $400,000 fee to settle […]
This article originally appeared on The Real Deal. Click here to read the full story.
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