The man behind the project is lender Michael Goldberg, who got the city to partially lift its stop-work order last week and started cleaning up the site, which became a feces-encrusted rat castle just a year after former owner Michaelangelo Russo, who bought the property for $5.2 million in 2007, ran out of money. In addition to the rats, the building had an illegal construction shed that jutted out so far into the street it held up traffic.
Mr. Goldberg has scrapped plans for condos or a hotel, and has, instead, decreed it shall be a rental. Reportedly, he has already met with the architect and engineer. The building should be completed by the end of the summer.