Sharif El-Gamal’s Soho Properties is taking further steps to protect its interests in the Margaritaville Resort Times Square Hotel. The Manhattan-based developer filed a second bankruptcy petition on Aug. 11 to place its fee owner entity — 560 Seventh Avenue Owner Primary — under Chapter 11 protection. PincusCo first reported the news of the second bankruptcy filing connected to the Times Square property.
The Margaritaville Resort Times Square Hotel in New York City has recently found itself in the center of a legal dispute. The LLC with 100% membership interest in it filed for bankruptcy.