Can the Rivington Deal Be Undone?
April 13, 2016
*** BREAKING NEWS ***
Bharara looking into Rivington deal, sources say
Politico New York, April 2016
“Allure paid $28 million for the property and promptly requested the Department of Citywide Administrative Services (DCAS) lift restrictions on the deed that required it to be a non-profit healthcare facility. After the nursing home operator paid a $16 million fee, the agency lifted the restrictions on Nov. 11, 2015. Three months later, Allure sold it for $116 million to Slate Property Group, which Capalino also represents, though not for this particular transaction.
City Hall is reviewing whether it has grounds to sue Allure, which had indicated in an email it would try to maintain the facility as a nursing home. Allure and Capalino have maintained they did nothing wrong.”
FINALLY THE FEDS ARE GETTING INVOLVED IN THE ALLURE DEAL
U.S. Attorney Probes Manhattan Land Deal
Wall Street Journal, April 12, 2016
“The U.S. attorney’s office in Manhattan is examining a decision by Mayor Bill de Blasio’s administration to lift deed restrictions on a Lower East Side health-care facility, a move that allowed the building to be sold for what appears to be a $72 million profit, people familiar with the matter said. “