RXR sues Renaissance over joint projects
A subsidiary of RXR Realty has sued Renaissance Downtowns for "misconduct" and lack of progress of more than $1 billion worth of joint development projects. The lawsuit filed Wednesday in State Supreme Court in Nassau County by RXR Fund II LI Downtowns Holdings claims that Plainview-based Renaissance Downtowns Investors, RXR's operating partner in planned redevelopment of more than a dozen parcels in the Village of Hempstead and Huntington Station, acted in bad faith by spending more than $3 million in "improper and unauthorized expenditures" within the last two years.
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