NYC developer in danger of defaulting on ultrathin billionaire luxury tower near Flatiron

Eichner, who has notoriously gone bust in each of the past three decades but bounces back each time, is now battling with his joint-venture partners Fortress Investment Group and Dune Real Estate Partners over financing at his glassy Flatiron District condominium tower at 45 East 22nd Street.

The head of the Continuum Company is accusing Fortress and Dune of stymying his efforts to refinance the struggling project in an effort to protect their returns, thus edging him toward default and putting him on the hook for personal guarantees, according to a lawsuit Eichner filed in Manhattan Supreme Court Wednesday.

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The condo project, like many across the city, is struggling to move units amid a slow sales market. Eichner claims that more than 70 percent of the units are sold, but when the $343 million construction loan Goldman Sachs provided for the project came due last fall, the partners had to seek additional financing to complete construction.