Around Brooklyn: Dispute escalates at Williamsburg Hotel
Dispute escalates at Williamsburg Hotel
A month after a temporary receiver was appointed for Toby Moskovits’ Williamsburg Hotel, its fate seems cloudier than ever, according to The Real Deal. In documents filed Tuesday, lender Benefit Street Partners claims that receiver Constantino Sagonas has violated his mandate by allowing Moskovits to maintain control of the hotel’s revenue and by ignoring demands for information about the hotel’s finances. Benefit Street argues that the situation makes it imperative that the courts force the receiver to act because “the hotel industry, and [the] lender’s collateral in the hotel, is in particular jeopardy.”
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