Finance issues for SK Development and Ironstate are expanding beyond Murray Hill.
The developers behind the Reade Chambers mixed-use complex in Tribeca are facing foreclosure on a pair of storefronts attached to the luxury condo development, Crain’s reported. The retail berths, both part of a single development, are located at 71 Reade Street and 87 Chambers Street.
Delaware-based Wilmington Trust, acting on behalf of lender Natixis Real Estate Capital, alleges SK and Ironstate defaulted on a $7.5 million loan tied to the storefronts. Executives from the developers allegedly stopped making payments in November…