Millionaire developer hired hitmen in several murder-for-hire plots against wife, killed himself as cops closed in: FBI
A prominent South Florida developer hired numerous hitmen to kill his wife of 32 years, according to the FBI. The millionaire reportedly committed suicide at the exact moment law enforcement officers approached him. The FBI says it has recorded phone calls between several suspects accused of traumatizing Sergio Pino's estranged wife, Tatiana Pino. Investigators believe […]
Biden-Subsidized Offshore Wind Developer Reports Massive Losses In Latest Blow To Industry
The Danish renewable energy group posted a huge impairment loss on Thursday in its first-half 2024 results after postponing the launch of one of its US offshore wind projects. Orsted estimates that asset values will decline by $472 million in the first half of 2024, driven primarily by delays to the onshore substation for its […]
Billionaire Bill Ackman mulls deal to take Seaport developer Howard Hughes’ firm private
Billionaire hedge fund manager Bill Ackman is bouncing back from a failed IPO for Howard Hughes real estate company Pershing Square USA and is eyeing a deal to take the company private. This is shown in regulatory filings. The document, which is published on the Securities and Exchange Commission’s website, is called a Schedule 13D […]
NYC developer sues city for $50M over stalled East Side riverfront project
The Adams administration’s botched plan to build a seawall along the shoreline of the East River cost the city a valuable and much-needed life sciences facility and cost a potential developer at least $50 million, a stunning lawsuit alleges. New York Stock Exchange-listed real estate developer Alexandria Real Estate Equities (ARE) alleges in a lawsuit […]
NYC developer Michael Shvo sued over shoddy upkeep at luxury building
Prominent New York real estate developer Michael Shubo is being sued by a disgruntled couple who dropped $6.1 million on the Mandarin Oriental Fifth Avenue, who claim the luxury building is riddled with problems, including an “algae-filled” rooftop pool. In a complaint filed Monday in New York State Supreme Court in Manhattan, John Goodman and […]
OpenAI CEO Sam Altman Sues Developer over Problems with His $27 Million San Francisco Mansion
OpenAI CEO Sam Altman has filed a lawsuit against real estate developer Troon Pacific, alleging that the $27 million San Francisco mansion he recently purchased is riddled with defects and construction issues. The Verge Reports Sam Altman, the prominent CEO of artificial intelligence company OpenAI, has filed a lawsuit against San Francisco luxury housing developer […]
NYC developer Michael Shvo slams $600M suit by exclusive club as ‘cynical ploy’ for rent reduction
A $600 million lawsuit filed by the Core Club, the ultra-exclusive Fifth Avenue power mecca, against a New York real estate mogul is rotten to the core, according to the developer being sued. Core owners Jenny and Danjean Enterprises alleged last month that real estate mogul Michael Shvot reneged on a deal to acquire a […]
‘Bunch Of Suits Trying To Cover Their Tracks’: Beach Town Locals Slam Offshore Wind Developer For Polluting Shores
Residents of Nantucket, Massachusetts, spoke out against wind power companies at a town hall on Wednesday. A “turbine blade failure incident” has caused debris to wash up along the shoreline. Staff of The small island town, located 30 miles off the coast of Cape Cod, was forced to close beaches on its south shore on […]
NYC developer gets nearly $1B loan for residential towers overlooking Hudson River
As foundation work progresses on two dramatically styled apartment towers downtown, funding has finally been secured for the high-profile riverside project. Atlas Capital Group has closed a $985 million construction loan for the tower at 80 Clarkson Street, which it is developing with Zeckendorf Development and Baupost Group, people familiar with the matter told The […]
NYC developer Michael Shvo’s spat with posh member’s-only Core Club takes ugly twist
Michael Schvo never gets a minute’s rest. As we reported June 27, he is being sued for $600 million by Core Clubs for an alleged “egregious” fraud scheme connected to the club’s location at 711 Fifth Ave. Shubo called the lawsuit a “desperate attempt to bail out” the club’s owners from a “binding agreement” that […]