Thursday, July 22, 2010

Harlem's WA Condominiums faces foreclosure

clipped from therealdeal.com
Harlem's WA Condominiums faces foreclosure



From left: Brothers Trevor Whittingham, David Atkinson and the WA Condominiums
Banco Popular has filed a lawsuit to foreclose on the WA Condominiums in Harlem, after the developers allegedly defaulted on $13.2 million in loans.

According to the suit filed last Thursday, the developers, brothers Trevor Whittingham and David Atkinson, borrowed $11.1 million in 2006 to build the 35-unit luxury boutique condo, one of the high-end developments in Harlem built during the boom at 2201 Adam Clayton Powell Boulevard at 130th Street.

The developers also borrowed $2 million project loan and a $2.6 million acquisition loan from MTM Realty, which was later assigned to Puerto Rico-based Banco Popular.

From left: Brothers Trevor Whittingham, David Atkinson and the WA Condominiums

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