Wells Fargo Inspections Signal Extell’s Loan Interest for Cherry Street Tower

Posted on: January 12th, 2021 at 5:06 am by

It appears that Extell needs more money to operate 227 Cherry Street.

Wavecrest Management, which oversees this affordable building in the shadow of One Manhattan Square, circulated a letter to tenants that Wells Fargo bank will be on-premise tomorrow for a “lender site inspection.” So, it would appear that Extell seeks another loan for this property at 227 Cherry Street.

Many embattled tenants – feeling neglected in the face of rising crime and no onsite security  – refuse to comply. We’re told that the 227 Cherry Tenants Association apparently consulted an attorney who advised that residents need not comply with this request.

“We plan to advise all tenants not to allow access, especially since we were denied human security by Extell at our last meeting with them,” a tenants association spokesperson tells us.

As reported, this building has been struggling with dangerous conditions for more than a year. Residents continually conplain of shoddy security, alleged assaults, stolen packages, and homeless roaming the halls and sleeping in the lobby.

Recent Stories

Stringer Punts on East Side Coastal Resilience Contract

For advocates of East River Park, a brief reprieve. City Comptroller, and former mayoral candidate Scott Stringer did not sign the $1.2 billion construction contract with IPC Resiliency Partners that would kickstart city funding for the East Side Coastal Resilience project. It apparently boils down to missing info and the review period having elapsed. “As […]

Restless Soul: Christopher Paul Stelling at Rockwood Music Hall

Christopher Paul Stelling lived in New York City for a few years. He inhabits a restless soul, however. Originally from Daytona Beach, Florida, the artist has lived in Colorado, Washington, Massachusetts, and currently resides in Asheville, North Carolina. He spends a lot of time on the road, too, except that last year he had no […]

Wegmans Market to Open at Former Astor Place Kmart

Something rather unexpected. Not two weeks after Kmart terminated its presence in Astor Place, its replacement is announced. From left field – Wegmans is to open its first Manhattan grocery at this location. The well-regarded, Rochester-based chain already maintains a store in Brooklyn. Curb your enthusiasm, though, as the new Wegmans won’t open at 770 […]

Shakespeare in the Parking Lot Wraps its Summer Season

Shakespeare in the Parking Lot is wrapping up its latest affair with a lesser known production from the Bard’s canon. Continuing the Lower East Side tradition, the Drilling Company is back at the Clemente for three final performances this week – to perform Two Noble Kinsmen. For this iteration, director Hamilton Clancy has taken the […]

A Grave Marker for a Homeless Man Bludgeoned to Death on the Bowery

It’s been nearly two years since the city was rocked by the fatal bludgeoning of homeless men on the Bowery while they slept. Of the five beaten by 24-year-old attacker Randy Santos, four ultimately died – Chuen Kwok, Anthony Manson, Florencio Moran, and Nazario Vasquez-Villegas. Chuen Kwok was a vulnerable senior who, after the passing […]