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

Delivery Worker Slashed and Mugged in Ridge Street Condo

A food delivery worker on the job was slashed across the face Sunday evening while in the elevator of a luxury condo building on Ridge Street, according to police. The unidentified victim, a 29-year-old man, had been in the elevator of 78 Ridge Street (Ridge Street Residences nee River Ridge Condo) when he was approached by […]

Under Community Pressure, City Moves to Renovate Rivington Playground

As Sara D. Roosevelt Park continues its steady descent, area stakeholders are pushing to rehabilitate a key playground in the northern section of the park to stave off the danger element. The Rivington Street Playground, situated across from the M’finda Kalunga Garden, is next on the docket for a refresh, much in the same way […]

‘Belse’ Erases Paulaner from the Bowery Ahead of New Vegan Brewery

A vegan brewery and restaurant is poised to open on the Bowery, taking the place of the failed, and since fallow, Paulaner Brauhaus. Indeed, as previously reported, Dallas-based Belse is on board to take over 265-267 Bowery. The relative newcomer – which began life last February – will go even bigger with this larger Lower […]

Moscot Moves HQ from the Corner to New Orchard Street Store

Moscot is no longer on the corner, leaving behind Orchard and Delancey for a spot just paces to the south. And for the first time in its history, no rent to pay. As first reported by Bowery Boogie earlier this year, the centenary opticians chose the mid-block space at 94 Orchard as new base of […]

Mark Miller Reopens Orchard Street Gallery This Week with Street Artist Hektad

The Mark Miller Gallery returns to Orchard Street this week, and is enlisting the help of an established graffiti writer to help relaunch. The longtime Lower East Side showroom will reopen on Wednesday – after a two-year pandemic hiatus – with an exhibit featuring Hektad. “Looking at the graffiti art of Hektad is like finding […]