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Tuesday, September 27, 2022
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Greenwich developer of Villa BXV condominium in Bronxville declares bankruptcy

Last month an American Arbitration Association panel awarded $14.3 million to two parties listed in a bankruptcy exhibit: James Carnicelli Jr. of Scarsdale, and The Gateway Development Group of Greenwich.

Arbitrators order Greenwich developer Fareri to pay $14.3M to Villa BXV...

Fareri’s testimony that he was unaware of activities and tax filings that “inured only to his personal benefit” was not credible, arbitrators said.

Buyer of $1.5M Villa BXV condo in Bronxville sues over alleged...

The condominium was marketed and sold “as a top-tier luxury product that would afford owners and residents an elegant, pampered lifestyle,” the complaint states. “The sponsor has not delivered on that promise.”

Fareri Associates opens Villa BXV condos in Bronxville

The downtown condominium project was stalled for several years by the 2008 bankruptcy of its previous developer.
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