Riverhouse Battery Park
Geez – Battery Park’s eco-luxury building Riverhouse is lucky it has already won the hearts of celebrities like Tyra Banks and Leonardo DiCaprio (both of whom have reportedly signed contracts for residences at the property), because it seems financially, things are quite cloudy down there. Curbed is reporting that Sheldrake and Lehman Brothers, who were partnered on the property, have partially parted ways. Apparently, Lehman removed Sheldrake as the managing member of the property because they suspected that Sheldrake had been engaging in fraud. Sounds quite fishy, doesn’t it? Lehman claims that Sheldrake created and submitted false invoices to a German-based lender and says that instead of directing the reported $12 million they received into land lease fees and construction expenses, Sheldrake put the money into personal accounts. Sheldrake has filed an injunction, claiming that the Notice of Removal filed by Lehman was “no more than a veiled attempt by Lehman to steal the project from Sheldrake.” Fishy, indeed! You’d be surprised, however, how often these sorts of partnerships dissolve over the course of the construction of a new development. Though the issue above seems like a big deal, such switcheroos are actually quite common in the real estate world – and more importantly, rarely do they affect the residents of a given property.
You may recall that we wrote about the stalling of the opening of Riverhouse’s corresponding park, Teardrop Park South. Riverhouse promised its residents the lush greenery of Teardrop Park, but residents of the luxury property have yet to enjoy anything of the sort. Despite these financial and construction-related hiccups, Riverhouse seems to be doing quite well! Certainly, the eco-friendly building, which has David Rockwell designed interiors, hasn’t had much trouble luring in buyers. Riverhouse is currently over 70% sold. Perhaps this is due to the fact that despite all the financial hullaballoo going on with the higher ups, the building itself is quite wonderful!
Riverhouse is one of the greenest buildings in the United States; it exceeds gold LEED certification. Residents of Riverhouse enjoy such environmentally friendly bonuses as twice filtered air, filtered water, non-toxic materials, and even lower energy costs. Riverhouse is just one block west of TriBeCa, and is just steps away from the brand new Whole Foods at 101 Warren; as well as the subway and the Financial District. Situated on the last waterfront property in Battery Park City, Riverhouse is one of the most luxurious buildings in the city. So the park isn’t open quite yet – we’re pretty sure the bevy of amenities offered by Riverhouse will make up for it.
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