NEW APARTMENT BUILDINGS
COMMUNITY ENGAGEMENT ON CAMPUS
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OCTOBER 15, 2018 | VOL. 54, No. 42
YOUR ONLY SOURCE FOR REGIONAL BUSINESS NEWS, COVERING THE HUDSON VALLEY
westfaironline.com
Judge denies motions to dismiss Trump Tower racketeering lawsuit BY BILL HELTZEL bheltzel@westfairinc.com
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federal judge has denied motions by the former treasurer of Trump Tower at City Center, and his associates, to dismiss a 2016 racketeering lawsuit filed by the White Plains condominium’s board of managers. The judge also dismissed a counter-claim asserted by Frank Palazzolo, the former treasurer, accusing the board of unjust enrichment. At this state in the proceedings, U.S. District Judge Kenneth M. Karas ruled on Sept. 28, the condo board has sufficiently alleged that Palazzolo and his associates “received and facilitated the receipt of numerous transfers totaling hundreds of thousands of dollars in allegedly stolen funds.” The ruling comes on the heels of a $101.3 million sale of an apartment complex in Elmsford that was connected to alleged illegal transactions. Ridgeview Holdings II LLC sold the 418-unit Ridgeview Apartments complex to Ares Management, Atlanta, in July. When developer Louis Cappelli opened Trump Tower in 2005, it almost immediately encountered financial difficulties. Palazzolo, who lived there, became treasurer of the condo board in 2007. » TRUMP TOWER
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Harrison Playhouse Lofts will feature a courtyard, terrace, fitness facility and a screening room.
Playhouse Lofts to add 36 apartments near Harrison train station
BY RYAN DEFFENBAUGH rdeffenbaugh@westfairinc.com
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erco Properties broke ground Oct. 4 on the Harrison Playhouse Lofts, a venture that will build 36 luxury apartments around a 1920s-era movie theater that played its last picture more than a decade ago. The theater’s storefront is faded and the glass cases that held posters of “Coming
Attractions” show only a blank red background. But the theater’s location just steps away from the Harrison Metro-North train station and surrounded by the town’s small shops and restaurants make it promising
for a second life as a home for apartment dwellers. Standing in front of the boarded-up brick wall on the Purdy Street side of the theater, John Verni, a partner » HARRISON
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