☞ READ: Recovery at The Lenox Condos

After filing for Chapter 11 a little over a year ago, the Wall Street Journal now reports that The Lenox condos at 380 Lenox Avenue and 129th Street has "emerged from bankruptcy protection." The lenders of the building's $19.6 million mortgage have agreed to a two year extension for selling the remaining 18 units of the building.  There are also a few notable facts about the Central Harlem condo which apparently is one of the first larger new construction projects that arrived as a full market-rate development and that a $2.4 million penthouse sale in 2007 set a condo record for property north of 125th Street.  To move the last remaining units, prices are currently being reduced 15 percent to about $475 to $630 per square foot.  More details in the Journal: LINK