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Exclusive | Billionaires’ Row developer calls his luxury supertall a financial ‘disaster’ — weeks after its trophy penthouse was discreetly delisted

Nypost · · 739 words · By Mary K Jacob
Billionaires' Row Financial Risk and Recovery Luxury Real Estate Market
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What to know about Billionaires' Row

Real Estate exclusive Billionaires’ Row developer calls his luxury supertall a financial ‘disaster’ — weeks after its trophy penthouse was discreetly delisted See more of our coverage in your search results.

Claims checked 15
Techniques found 1
Topics 3

Coverage spectrum

Coverage gap: Low Left coverage
Left0%
Center0%
Right100%

1 source compared across this story cluster. This is an eFinder estimate from indexed source coverage, not an editorial rating.

What happened

Real Estate exclusive Billionaires’ Row developer calls his luxury supertall a financial ‘disaster’ — weeks after its trophy penthouse was discreetly delisted See more of our coverage in your search results.

Why it matters

Add The New York Post on GoogleThe developer behind one of Manhattan’s most recognizable skyscrapers has delivered a surprisingly blunt verdict on the project that helped redefine Billionaires’ Row.

Common ground

Kevin Maloney, founder of Property Markets Group and co-developer of the ultra-slender 111 W.

Perspective signals

The tension in the story is sharpened by Loaded Language: language that can make the dispute feel more urgent, personal, or adversarial than the underlying facts alone.

open_in_new Read the original article: https://nypost.com/2026/06/04/real-estate/kevin-maloney-calls-111-w-57th-st-a-fi…

psychologyPropaganda Techniques Detected

eFinder identified 1 propaganda technique in this article. These signals explain how wording, emphasis, or missing context can shape a reader's interpretation.

warning
Loaded Language 80% confidence
Using words with strong emotional connotations to influence an audience.
Found in this article: eFinder flagged this technique because the story's framing or source language may guide readers toward a particular interpretation. Review the claim checks and evidence below to separate what is directly supported from what is implied by wording or emphasis.
Why it matters: Recognizing loaded language helps readers compare the article's framing with the underlying facts and with coverage from other sources.

fact_checkClaims Checked

eFinder analyzed this article and checked 15 claims against available evidence, cross-references, web search, and Wikipedia. Here is what the fact-checking layer found.

schedule Pending 5
info Single Source 5
help Insufficient Evidence 2
verified Verified 1
check_circle Corroborated 1
verified Verified By Reference 1
verified
Claim 1: “The sprawling aerie stretches across more than 11,400 square feet”
VERIFIED
A luxury real estate source confirms the penthouse spans nearly 11,500 square feet, which supports the claim that it is more than 11,400 square feet.
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wikipedia NEUTRAL — 111 West 57th Street, also known as Steinway Tower, is a supertall residential skyscraper in the Midtown Manhattan neighborhood of New York City, New York, U.S. Developed by JDS Development Group and …
https://en.wikipedia.org/wiki/111_West_57th_Street
travel_explore
web search NEUTRAL — May 20, 2025 ... ... 111 West 57th Street has officially claimed the title of the most expensive home currently for sale in New York City. Spanning nearly 11500 ...
https://www.instagram.com/p/DJ4d5ywp7v0/
travel_explore
web search NEUTRAL — Jun 4, 2026 ... Speaking at a real estate conference in Miami, Property Markets Group founder Kevin Maloney called 5. Kevin Maloney. Linkedin. Explore More.
https://nypost.com/2026/06/04/real-estate/kevin-maloney-call…
+ 1 more evidence source
schedule
Claim 2: “High-profile buyers returned, including entrepreneur Robert Herjavec and British developer Christian Candy, both of whom purchased homes in the building”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
check_circle
Claim 3: ““Financially, it was a disaster.””
CORROBORATED
Two independent news sources (The Real Deal and a detailed web report) explicitly quote Kevin Maloney calling the project a financial 'disaster'.
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wikipedia NEUTRAL — 111 West 57th Street, also known as Steinway Tower, is a supertall residential skyscraper in the Midtown Manhattan neighborhood of New York City, New York, U.S. Developed by JDS Development Group and …
https://en.wikipedia.org/wiki/111_West_57th_Street
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wikipedia NEUTRAL — The New Zealand Warriors 2011 season was the New Zealand Warriors 17th first-grade season. The club competed in Australasia's National Rugby League. The coach of the team is Ivan Cleary while Simon Ma…
https://en.wikipedia.org/wiki/2011_New_Zealand_Warriors_seas…
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wikipedia NEUTRAL — The 2017–18 Cleveland Cavaliers season was the 48th season of the franchise in the National Basketball Association (NBA). The Cavaliers entered the season as runners-up in the 2017 NBA Finals, where t…
https://en.wikipedia.org/wiki/2017–18_Cleveland_Cavaliers_se…
+ 3 more evidence sources
schedule
Claim 4: “In 2024, Sotheby’s International Realty broker Nikki Field took over marketing efforts with 23 unsold residences remaining.”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
schedule
Claim 5: “Today, the 1,428-foot skyscraper wrapping around the landmarked Steinway Hall is reported to be approximately 98% sold.”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
help
Claim 6: “developers to default on a $725 million loan backed by Apollo Global Management and AIG.”
INSUFFICIENT EVIDENCE
No evidence was provided in the search results regarding a $725 million loan default involving Apollo Global Management and AIG.
info
Claim 7: “The trophy listing was later reduced to $98 million.”
SINGLE SOURCE
The provided evidence mentions a $110 million listing and a $5.5 million washroom, but no source explicitly confirms a price reduction to $98 million.
travel_explore
web search NEUTRAL — Jul 26, 2025 ... And the price, oh my god, the price is, in my mind, so undervalued. 5.5 million. This is your washroom, again, floor to ceiling marble slab.
https://www.instagram.com/reel/DMlNCOmJTrh/?hl=en
travel_explore
web search NEUTRAL — 1 day ago ... ... 80 percent complete, according to owner and listing ... As expected, the average asking price for luxury homes above $4 Million came down ...
https://www.facebook.com/therealdealmedia/posts/a-brooklyn-h…
travel_explore
web search NEUTRAL — Apr 9, 2025 ... A four-level "quadplex" penthouse located in the skinniest skyscraper on Manhattan's Billionaires Row just hit the market for the ...
https://www.realtor.com/news/unique-homes/quadplex-new-york-…
info
Claim 8: “The residence, known as Quadplex 80, occupies the tower’s top four floors”
SINGLE SOURCE
The claim that Quadplex 80 occupies the top four floors is mentioned in one specific report, but not independently corroborated by the other provided sources.
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wikipedia NEUTRAL — 111 West 57th Street, also known as Steinway Tower, is a supertall residential skyscraper in the Midtown Manhattan neighborhood of New York City, New York, U.S. Developed by JDS Development Group and …
https://en.wikipedia.org/wiki/111_West_57th_Street
travel_explore
web search NEUTRAL — Libya has an embassy situated in Ottawa, Canada, serving as the main diplomatic mission. The primary function of the embassy is to foster and maintain bilateral relations between Libya and Canada, add…
https://www.visahq.ca/libya/embassy/canada/
travel_explore
web search NEUTRAL — Welcome to the Embassy of The State of Libya website in Ottawa. We hope to provide you information and assistance and thank you for your interest in our country.
https://www.embassyoflibya.ca/pages/frontpage-en
+ 1 more evidence source
info
Claim 9: “Last month it was removed from public marketing altogether, according to its StreetEasy history.”
SINGLE SOURCE
The claim that it was removed from StreetEasy is reported in one specific news article, but not corroborated by other independent sources.
travel_explore
web search NEUTRAL — Jan 10, 2023 ... Opportunities like this don't always hit the public market. DM us for ... Delete StreetEasy immediately, you won't be needing that anymore.
https://www.instagram.com/reel/CnPare1ILZ2/
travel_explore
web search NEUTRAL — Jun 4, 2026 ... The residence, known as Quadplex 80 ... Last month it was removed from public marketing altogether, according to its StreetEasy history.
https://finance.yahoo.com/markets/stocks/articles/billionair…
travel_explore
web search NEUTRAL — Jun 10, 2026 ... Commercial: 80 Park Avenue, New York, NY • $5,500,000 ... If you have a rental property and want professional representation, strong marketing, ...
https://www.instagram.com/reel/DZZy3X_CGUY/
schedule
Claim 10: “Earlier this year, a duplex penthouse in the tower entered contract for roughly $42 million, making it the largest residential deal on Billionaires’ Row so far in 2026.”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
schedule
Claim 11: “her team says it has generated roughly $480 million in contracts and closings”
PENDING
This claim was extracted as a checkable statement from the article. eFinder labels it pending based on the available evidence and source context shown below.
info
Claim 12: “it’s being marketed as two separate penthouses — the $42.5 million penthouse 80 and the $40 million penthouse 82 — by Adam Modlin of the Modlin Group.”
SINGLE SOURCE
The Modlin Group's Instagram mentions representing Penthouse 80 & 82, but the specific pricing ($42.5M and $40M) is not corroborated by a second independent source.
travel_explore
web search NEUTRAL — Representing the pinnacle of luxury residential living, Penthouse 80 & 82 offer a rare opportunity to own a piece of New York City history—residences destined ...
https://www.instagram.com/modlin_group/?hl=en
travel_explore
web search NEUTRAL — Recently, Modlin Group represented the sale of the most expensive single-family townhouse in the history of New York, 14-16 East 67 th Street for $77 million.
https://www.homes.com/real-estate-agents/adam-modlin/53zn3wq…
travel_explore
web search NEUTRAL — Nov 1, 2014 ... The 41-year-old lives on the Upper East Side with his wife and two daughters. Modlin launched his firm with his older brother, Avery, in 1999, ...
https://therealdeal.com/magazine/new-york-november-2014/day-…
verified
Claim 13: “Kevin Maloney, founder of Property Markets Group and co-developer of the ultra-slender 111 W. 57th St.”
VERIFIED BY REFERENCE
Wikipedia and multiple web sources confirm Kevin P. Maloney is the founder of Property Markets Group and a developer of 111 W. 57th St.
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wikipedia NEUTRAL — Kevin P. Maloney (born December 5, 1958) is an American real estate developer and founder of Property Markets Group.
https://en.wikipedia.org/wiki/Kevin_P._Maloney
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wikipedia NEUTRAL — Echo Brickell is a skyscraper in the Brickell district of Downtown Miami, Florida, United States. It was developed by Kevin P. Maloney's Property Markets Group.
https://en.wikipedia.org/wiki/Echo_Brickell
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wikipedia NEUTRAL — HFZ Capital Group is a real estate development and investment company based in New York City. Ziel Feldman founded HFZ in 2005 and is chairman. As of 2019, HFZ managed more than $10 billion worth of d…
https://en.wikipedia.org/wiki/HFZ_Capital_Group
+ 3 more evidence sources
help
Claim 14: “The development, launched in partnership with Michael Stern’s JDS Development Group, began construction in 2013”
INSUFFICIENT EVIDENCE
No evidence was provided in the search results to confirm the 2013 start date or the specific partnership details for construction.
info
Claim 15: “a four-story penthouse that once carried a massive $110 million asking price, quietly disappeared from the market.”
SINGLE SOURCE
While one source mentions a quadplex penthouse listing for $110 million, the evidence provided for the 'disappearance' or delisting is not independently corroborated by a second source in the provided set.
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wikipedia NEUTRAL — Anamosa State Penitentiary is a Medium/Maximum security penitentiary prison located in the Jones County community of Anamosa, Iowa – approximately 25 miles (40 km) northeast of Cedar Rapids, Iowa.
https://en.wikipedia.org/wiki/Anamosa_State_Penitentiary
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wikipedia NEUTRAL — The Mercedes-Benz W 108 and W 109 are luxury cars produced by Mercedes-Benz from 1965 through to 1972. They succeeded the W 111 and W 112 "fintail" (German: "Heckflosse") sedans, and upon their introd…
https://en.wikipedia.org/wiki/Mercedes-Benz_W108/W109
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wikipedia NEUTRAL — Swissair Flight 111 was a scheduled international passenger flight from John F. Kennedy International Airport in New York City, United States, to Cointrin Airport in Geneva, Switzerland. The flight wa…
https://en.wikipedia.org/wiki/Swissair_Flight_111
+ 3 more evidence sources
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.