A glamorous Madison Avenue condo tower that generated buzz from early buyers like Susan Sarandon, Naomi Watts and Liev Schrieber, is now under legal fire from both buyers and creditors.
The legal and financing firestorm is a cautionary tale for real estate pros as it marked the first Manhattan effort by developer Ira Shapiro — one of many real-estate prospectors drawn to the Big Apple in the middle of the last decade by the soaring condo market.
Shapiro financed the project, One Madison Park, at Madison Ave. and 23 Street — and got Los Angeles talent agency CAA to partner with him
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