Photo courtesy of NYCEDC

 

Despite recent set-backs that have plagued the proposed tourist attraction, the NY Wheel project is moving forward. As reported in the New York Business Journal, NY Wheel CEO Richard Marin says the first batch of concrete will be poured for the foundation this June.

However, differences between wheel executives may affect the announced ‘pour’ date.

Photo courtesy of NYCEDC

 

New York Business Journal: New York Wheel CFO Eric Kaufman, along with partner Meir Laufer, hired Kasowitz Benson Torres & Friedman LLP for legal counsel, citing Marin’s mismanagement of the project and “improper conduct throughout the development process.” Marin, together with New York businessman Andrew Ratner, has filed his own lawsuit against Kaufman and Laufer, claiming the two investors had not paid an additional $17 million that was required of them as board members.

A New York Supreme Court hearing is scheduled for sometime in June. Read more from the New York Business Journal here…

posted by Mai Armstrong for the Working Harbor Committee

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