Current updates are not available. Earlier updates remain below for historical context and may no longer reflect the case’s current position.
Earlier updates
These updates were replaced by later case developments and may no longer reflect the current case.
Hearings·
The court approved a supplemental final DIP order increasing Parkview Financial REIT, LP’s DIP commitment from $32.8 million to $43.5 million, with the roll-up amount revised to the same $43.5 million figure and an amended budget approved for the case Supplemental DIP Financing OrderDkt. 436. That additional liquidity is paired with a live lease strategy: one day later, the court held that the May 4, 2022 ground lease with 356W58 Ground Lessor LLC for 353-361 West 57th Street is residential real property for section 365 purposes if it is ultimately found to be a true lease Ground Lease Classification OrderDkt. 443.
The combination gives the debtors more runway and more tactical flexibility. The DIP order expands case funding, while the lease classification order avoids the stricter nonresidential-real-property lease timing regime under sections 365(d)(3) and (4), leaving assumption or rejection to the broader section 365(d)(2) timeline rather than forcing an immediate lease deadline fight.
