The site of the 43-story tower at the corner of East 51st Street and Second Avenue may remain a partially built tragic reminder of the fatal March 15 crane collapse for a long while, because the developer's lender has started foreclosure action against him. Apparently developer, FDNY veteran James Kennelly, hasn't paid $70.4 million in loans; though he couldn't attempt to get new financing, bankers tells the NY Times it's harder for developers to get......

Photograph from East 51st Street by gattogrosso212 at flickr The East 51st Street condominium site where a crane collapsed into buildings--completely leveling a townhouse and killing seven--had its construction permit revoked. A month after the March 15 collapse, it was revealed plans for the 43-story building should never have been approved by the Department of Buildings (it's possible revised plans could still have been approved), so the developer James Kennelly was asked to resubmit......

As rescuers pick through the rubble of buildings crushed and damaged by a crane collapse in midtown Manhattan yesterday, real estate developer James Kennelly was familiar with the scene because he served 13 years with the FDNY, where he had been assigned to Ladder 16 in Manhattan on East 67th St. The developer of 303 East 51st St., a planned 40+ floor skyscraper where the crane was situated, Kennelly earned a bachelor and law degree......