A judge is allowing the developer of W Boston Hotel and Residences to emerge from bankruptcy, as long as it sells off its remaining 71 condo units and pays back creditors.
The idea of selling all the new Stuart Street condos in this market sounds a little far-fetched. But the Herald article notes that 22 other units were sold while the W was in bankruptcy proceedings, and the judge seemed to believe the developer’s claim that the remaining units can be sold as well.
There are two large creditors waiting to get paid back: Prudential Insurance and the city of Boston, which loaned the project $10 million.
