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Temple of Ruins, Balazs Checks Out of 5 Beekman St. Development

Hotelier Andre Balazs has given up on his effort to restore one of the cities grandest dormant dorms.

It was only last October when the magnificent Temple Court, a block from City Hall, was revealed as in contract to the hot hotelier, but the deal fell through and Mr. Balazs may even be out $5 million on it, the Post reports. It is believed intertia in financing the restoration got the better of Mr. Balazs. However a source for the tab claimed that he pulled out for other unspecified reasons. Read More