As we first reported yesterday, the development plans for the verdant vacant lot at 1000 Broadway have recently been dusted off having lain relatively dormant for the past six years. While development of the lot was first formally proposed in 2006 it was never approved yet a $15 million mortgage was secured against the property in April 2008.

Two months ago, a notice of default was filed and the property entered into foreclosure with $20,369,142.20 owed which might explain the recent push to clear the site for development and perhaps a quick sale, on or off the courthouse steps.

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