Sharif El-Gamal’s 45 Park Place battle with MSD could heat up soon

Sharif El-Gamal’s 45 Park Place condo tower remains the eyesore of Tribeca. The upper floors of the 43-story tower that was supposed to be El-Gamal’s crown jewel instead show exposed concrete while a crane stands idle nearby. Construction ground to a halt in 2019 and El-Gamal and his lenders became locked in legal limbo. Lender Malayan Bank Berhad initiated a foreclosure on the property in 2020, but a judge denied summary judgment, allowing El-Gamal to keep fighting — and the project to remain stalled. In 2022, an affiliate of Michael Dell’s MSD Partners acquired the $174 million loan backing the […]This article originally appeared on The Real Deal. Click here to read the full story.