Did The Canary Of New York’s Luxury Housing Market Just Die: Real Estate Developer Files For Bankruptcy

Did The Canary Of New York’s Luxury Housing Market Just Die: Real Estate Developer Files For Bankruptcy:

The Bauhouse Group has filed bankruptcy for BH Sutton Mezz LLC, their entity that was to build out a 78 floor luxury condominium tower at Sutton Place, located on Manhattan’s Upper East Side. The bankruptcy comes on the heels of foreclosure efforts by Gamma Real Estate, who alleges that Bauhouse has defaulted on a loan of roughly $147 million.

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