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Behind a $10M construction showdown at Sharif El-Gamal’s 45 Park

As Sharif El-Gamal sought to refinance 45 Park Place, construction crews prepared to abandon the luxury condo site this week over nearly $10 million in unpaid work — just a month shy of topping out. Gilbane Building Company, which El-Gamal’s Soho Properties contracted to build the 43-story Tribeca tower, had not received payment for work completed in 2019 and only “minimal” payments for work done during 2018, sources told The Real Deal. In an eleventh […]

source https://therealdeal.com/2019/04/30/behind-a-10m-construction-showdown-at-sharif-el-gamals-45-park/

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