... the buyer will be contractually obligated to shell out over $10 million to execute a detailed, 80-page list of renovations, ranging from a handful of new peepholes to a sweeping overhaul of the buildings’ bathtubs. On top of that, the buyer must deposit just over $2.5 million into an escrow account that HUD can access in the event that repairs are not on schedule, as evidenced in the illustrated quarterly progress reports the buyer will be required to send. — artinfo.com
In 2009 and 2010, we visited residents of Lafayette Park with photographer Corine Vermeulen while researching our forthcoming book Thanks for the View, Mr. Mies. Vermeulen’s portraits of townhouse owners in their homes appeared in the New York Times. Here we present the corollary to that series: tenants of the Pavilion and the Lafayette Towers in their apartments. Vermeulen’s portraits are accompanied by Lana Cavar’s photos of the views from each apartment window and by excerpts from interviews — places.designobserver.com
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