November 15, 2018
Philadelphia-based real estate developers allegedly owe contractors more than $800,000 in payment for work on a downtown Pittsburgh department store.
Core Realty, which is based in Philadelphia, purchased the former Macy’s department store in downtown Pittsburgh back in 2015. In recent months, the delays that have marred the project for two years started affecting payment to the contractors working to redevelop Core Realty’s space.
Court records filed this week claim that 400 5th Avenue LP, the Core Realty affiliate working on the Pittsburgh project, owes Pittsburgh-based Triton Holdings $630,702 in payment for interior demolition, asbestos removal, and fire proofing, according to the Pittsburgh Post-Gazette. Triton Holdings is claiming it has been requesting payments since late July.
Separately, Pittsburgh Property Maintenance reportedly filed a claim alleging 400 5th Avenue LP owes $177,347 in payment for carpentry work. Pittsburgh Property Maintenance is claiming it has been requesting payments since mid-September.
Core Realty has been viewed by the city of Pittsburgh as the main reason for the building’s numerous delays over the past few years. Back in September, the city of Pittsburgh reportedly was waiting for Core Realty to submit a revised floor plan after a July tweak to its proposal.
The delays, Pittsburgh director of permits, licenses and inspections Maura Kennedy told the Post-Gazette at the time, were “totally of (Core Realty’s) making.”
Core Realty CEO Michael Samschick in September said Core Realty wasn’t concerned about delays “as much as the quality of the product.”