Another Angry Buyer at 20 Pine Comes Forward
The condo conversion of 20 Pine Street has been plagued with problems for ages. One of the first conversions to come along in the financial district, the Shaya Boymelgreen-developed, Michael Shvo-marketed building was supposed to be finished in 2007. It wasn't, of course, which led to the first lawsuit back in August 2008 when a buyer argued that 20 Pine had been misleading about the building's completion date and had refused to rescind the buyer's contract. The situation hasn't improved much since then: The pool and gym remain unfinished, and just two weeks ago Shvo announced that construction work on the building's amenities would be suspended for a week "to concentrate on completing about 50 residential units." Now it seems other buyers have had enough. A Massachusetts woman who paid $925,000 for an apartment in 2006 (as well as an additional $16,000 for two storage units) filed a lawsuit of her own this week, and is now demanding that her deposit be returned, too. The full suit appears after the jump.
Amenities work at 20 Pine suspended [The Real Deal]
20 Pine - The Collection Now Faces 20 Pine - The Lawsuit [Curbed]