Bronx, NY – A $16 million bid to buy and renovate a low-income Bronx apartment building was scuttled by the local councilwoman – with the backing of Council Speaker Christine Quinn – in order to steer the building to a different owner, the jilted buyer charges in a lawsuit.
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Developer Gerald Migdol claims in his suit against the city and other defendants that he’ll lose a $1 million deposit on the aborted purchase of the 220-unit building in the Melrose section because Councilwoman Maria del Carmen Arroyo was able to get the city’s approval of the sale rescinded. [NYpost]