1055 Park Avenue is toast

Per Property Shark: Lis Pendens filed 6/18/2009 Judgement Expires 6/18/2012 Document Type Lis Pendens Index number 108653/09 Debtor Davis Development Holdings LLC 1055 Park Avenue New York NY Creditor Vanguard Construction And In current practice, a lis pendens is a written notice that a lawsuit has been filed concerning real estate, involving either the title to the property or a claimed... [more]

Per Property Shark: Lis Pendens filed 6/18/2009 Judgement Expires 6/18/2012 Document Type Lis Pendens Index number 108653/09 Debtor Davis Development Holdings LLC 1055 Park Avenue New York NY Creditor Vanguard Construction And In current practice, a lis pendens is a written notice that a lawsuit has been filed concerning real estate, involving either the title to the property or a claimed ownership interest in it. The notice is usually filed in the county land records office. Recording a lis pendens against a piece of property alerts a potential purchaser or lender that the property’s title is in question, which makes the property less attractive to a buyer or lender. After the notice is filed, anyone who nevertheless purchases the land or property described in the notice takes subject to the ultimate decision of the lawsuit. A foreclosure will wipe out a lis pendens. If the lis pendens does not end in a foreclosure at auction, then it will stay a lis pendens where the subsequent buyer will have constructive notice. [less]