New York Construction Accident Lawyers Investigate Crane Foreclosure

The recent crane accidents in New York City ended up causing seven deaths, damage to an East Side residential building, and now the owner may be facing foreclosure. As reported by the NY Times, “All work on the concrete hulk of what would have been a sleek 43-story tower at 303 East 51st Street ceased after the accident more than four months ago. City officials rejected the developer’s revised construction plans in June and revoked his building permit.” The buildings lender, Arbor Realty Funding announced that is was going to foreclose on the building. New York Construction accident Lawyers is being summoned to help dispute these cases.

Developer James Kennelly owns the building involved in the NYC crane accident and is now faced with foreclosure. His New York Construction accident lawyer has seen a lot of action lately due to the deaths and injuries in the accident. This is because Kennelly has failed to pay $70.4 million dollars in outstanding project loans. Since this issue might take a while, the building still stands as a daily reminder of the seven deaths that occurred there. The building is still being worked on stands 18 stories tall and is located on 2nd Ave that is taped off so that no other incidents occur at the same site. Mr. Kennelly does have options however; he can refinance allowing him to repay the back loans. Due to the recent state of the economy, Kennelly might have some trouble finding a lender. Another issue is that if someone else bought the building, they would have to obtain approval from the Buildings Department to keep the project alive.

People who live in the community were worried about safety when the building was being worked on. Their worries had merit because looked what happened in the end, devastation. And a community group, “the Turtle Bay Association, said the city’s Buildings Department had largely ignored its complaints about the building’s 43-story height, as well as its balconies.” People in the community knew that the construction on the building was shady in which their voices should have been heard. Since the two crane accidents occurred, Mayor Bloomberg has adjusted safety standards to be tighter and more forceful. This recent change is for the better because it will allows the citizens of New York City to have a more peace of mind.

Back in February when the crane incident building was obtaining zoning and permits there was some discrepancy. Officials were afraid that Kennelly’s building was far to close to another four-story building that was connected. Another issue with the same building was that the balconies branched over other buildings as well. Never the less, the construction went on while these details were being negotiated between Kennelly and the buildings department as well as OSHA when the crane accident occurred. New York construction accident lawyers have been working around the clock to complete these negotiations as they have been going back and forth between lawyers a number of times.

If you or a loved one was injured during a New York crane accident or any other construction accident, contact A New York construction accident lawyer for they have the expertise and knowledge to deal with large corporations, insurance giants, and even the government. Contact a New York Construction accident lawyer to discuss your options and start your way to recovering compensation.