Blackstone Sues Sapir for Defaulted Beaver House Loan
The Blackstone Group is suing downtown developer and renowned extinct-animal-pelt importer Tamir Sapir for defaulting on a huge loan for his downtown condominium the William Beaver House, according to The Real Deal:
The lawsuit alleges that as of November 2009 Sapir owed $48.7 million in interest, on top of the $66 million in principal. Another $15.7 million in new interest is now due, resulting in the $130 million claim for summary judgment.
This is just the latest trouble to befall Mr. Sapir, who also recently lost an office building at 100 Church Street to mega-landlord SL Green.