Another Angry Buyer at 20 Pine Comes Forward
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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]