Share via Shortlink Development site for Marker 27. (Marketing materials from Rosewood Realty Group obtained by The Real Deal / Drone Photo by Frank Galasso, Vertical Media)
Westchester County developer DeNardo Capital filed for Chapter 11 bankruptcy Tuesday, stopping a planned foreclosure auction on its luxury condo project. Greenwich, Connecticut–based SilverPoint Capital was planning a UCC foreclosure sale on interests in the Marker 27 project in Irvington, New York. The sale was scheduled for Feb. 18, according to marketing materials reviewed by The Real Deal. SilverPoint Capital claimed it was owed over $1 million on a mezzanine loan it provided in 2018. The foreclosure sale would give the new buyer or Silverpoint control of the 252,648-square-foot site, which is near the Hudson River and only 20 miles north of Manhattan.