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Foreclosure Awaits At Yonkers Luxury Apartments

A legal battle between business partners could have the Monarch apartments in Yonkers facing foreclosure.
A legal battle between business partners could have the Monarch apartments in Yonkers facing foreclosure. Photo Credit: eaglerockmanagement.com

YONKERS, N.Y. -- The long beleaguered Monarch luxury apartment complex is facing multiple lawsuits and possible foreclosure as complications relating to the sale of the building continue to mount, according to LoHud.com.

Ridge Hill holdings filed suit against its partner in the development,  Azorim at Ridge Hill, for unpaid debts and breach of contract, which has put the complex at risk of foreclosure, LoHud.com reported.

The 162-unit complex failed to sell half of the condominiums during the great recession and turned the remainder into rentals, LoHud.com said.

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