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The Wall Street Journal reports that the high-rise luxury condo project One Madison Park (23 East 22nd Street) has emerged from bankruptcy-court with a settlement that will allow the almost-finished building to be sold to and finished by either Related Companies or HFZ Capital.

There was a time when One Madison Park set the record for a contract price for downtown Manhattan real estate, but troubles with the builder, the lender, the brokers, and buyers wanting out of contracts stalled the once mighty project.


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