Recently there have been various reports and rumors about the sale of the HNA property. Brooklyn-based Vasco Ventures signed a contract to acquire HNA’s Palisades property but defaulted at the time of closure and on September 12 filed bankruptcy to prevent the immediate forfeiture of the Vasco’s deposit and give them more time to raise the financing necessary to acquire the property.

We are watching it closely and will keep you updated on this important issue.