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Word is in from the Real Deal that the high-rise luxury condo project One Madison Park (23 East 22nd Street) is set to re-launch in late 2012 after years of financial trouble and other shenanigans with the building. The glass tower overlooking Madison Square Park only completed and sold some of the units (including to Warren Buffet’s son), but then stalled entirely as the project headed to bankruptcy court. Related Companies has reportedly taken over the development and settled many of the outstanding claims holding up the project. They look to re-launch in late 2012.

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.

From what we have seen, the views from the building are incredible, unobstructed in most directions, and once this project is completed it should garner a lot of interest from buyers.

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