Controversial Developer Purchases 6th Avenue Site For Condos

A developer who was recently caught up in a controversy surrounding charges of fraud has come to the neighborhood.

Shiraz Sanjana and real estate partner RNS Holdings purchased a site at 695-705 6th Avenue (between 20th and 21st Streets), according to the Daily News, which notes the 34,800-square-foot building was purchased for $9.9 million. And apparently, Sanjana intends to build a new condominium.

Attorney General Eric Schneiderman banned Sanjana for a period of 16 months from selling condos after he, along with his business partner, was charged with fraud due to suspect paperwork involving another condominium project in Harlem.

This is Sanjana’s first project since the ban, which ended approximately six months ago.

Earlier this year, the architect Karl Fischer — who designed an apartment building that’s coming to the corner of 4th and Prospect Avenues — filed plans for a 3-story, 32-unit building at this location, but it’s unclear if those plans will hold with the new owners.

Considering the amount of new developments coming to the area, especially the multiple projects taking place on nearby 4th Avenue, do you think there’s room for this one on 6th Ave?