Waterbridge, partners file for Ch. 11 on stalled Soho development

The developers of a stalled Soho condominium at the former home of the Beastie Boys’ Adam Horovitz have filed for Chapter 11 bankruptcy. A partnership between Stéphane Boivin and Stéphane Bibeau’s Nordica Soho and Joel Schreiber’s Waterbridge Capital owe creditors roughly $26 million, according to the June 27 bankruptcy filing. Boivin and Bibeau acquired neighboring row houses at 182 and 186 Spring Street for nearly $16 million in 2011, with plans to develop a mixed-use building … [more]

Source: Real Estate

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