Agallas Equities, a Manhattan-based real estate firm, has blasted recent comments made by New York City Mayor Eric Adams on possible plans to start microchip production at the Kingsbridge Armory. As reported, Agallas filed a lawsuit on March 28 against NYC Economic Development Corporation (EDC), Andrew Kimball as CEO of EDC, 8th Regiment Partners LLC, a joint venture of Maddd Equities and Joy Construction, Bronx Borough President Vanessa Gibson and now former Deputy Bronx Borough President Janet Peguero over what it alleges was “the controversial selection” of the rival, chosen developer (8th Regiment Partners LLC) for the Armory redevelopment project announced in January.

Agallas Equities, a Manhattan-based real estate firm, announced on Friday, March 28, the filing of a lawsuit against NYC Economic Development Corporation (EDC), 8th Regiment Partners LLC, a joint venture of Maddd Equities and Joy Construction, Bronx Borough President Vanessa Gibson and Deputy Bronx Borough President Janet Peguero over what it alleges was “the controversial selection” of a rival, chosen developer for the Kingsbridge Armory redevelopment project, as announced in January.