Latisha Thompson, an attorney with Morrison Cohen who represents HFZ, said there is currently no date or timeline for when a new foreclosure sale will occur. The sale could have allowed either CIM or a new investor to ultimately take control of the four condo conversion projects: 88-90 Lexington Avenue, The Astor at 235 West 75th Street, and Fifty Third and Eighth at 301 West 53rd Street. CIM held four junior mezzanine loans with a balance of $89.5 million that had equity interests in the four condo projects. HFZ and its lender had been negotiating loan modifications over the summer, but the developer claims that CIM had no intention of restructuring the loans. Instead, HFZ alleges CIM planned to make a “credit bid” at the auction, which would allow the lender to take control of the collateral of the properties. (The credit bid would allow CIM to make a bid with the debt that HFZ owes).