Here are some excerpts from Daily Lodging Report from the past week. If you’re not a subscriber, you should be. Get news on hotel deals, development, stocks, and career moves. Sign up here, now.
Sunday, January 15
Maverick Real Estate Partners filed a suit against Chetrit Group and its president, Meyer Chetrit, over an unfinished hotel near Penn Station. The Commercial Observer reported that Chetrit has been working on a 33-story, 323-key hotel at 255 West 34th Street in Manhattan. In May, Maverick bought $110 million of debt, The Real Deal reported. Maverick alleged that payments were never made. Arbor Commercial Mortgage provided construction financing. The lender also said Chetrit didn’t pay property taxes on the site, a breach of the loan agreement, The Commercial Observer reported. Maverick is seeking $19 million to cover the principal of the loans, as well as…
