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Pricey parking lot

Bank sues as garage defaults on loan

By Donna Goodison
Wednesday, January 27, 2010 - Updated 50d 19h ago
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The developer of the InterContinental Boston Hotel could see the garage sold out from underneath its waterfront property.

Bank of America went to court Monday to put Extell Development Corp.’s three-level, underground garage at 500 Atlantic Ave. into receivership and sell it after the New York real estate firm defaulted on a $17 million loan.

 
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IN LINE: This entrance leads to...
Photo by Nancy Lane
IN LINE: This entrance leads to InterContinental Hotel’s parking garage.

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