Setback for Dunne in planned New York development

The son of former property developer Sean Dunne suffered a setback yesterday at a New York City Council planning hearing that could cost him almost $3m (€2.2m) in profit.

City planners told lawyers for TJD21 LLC that they required a “compelling reason” for the developers not to provide an outdoor space at the proposed apartment block which, the Dunnes hope, will be situated in SoHo at the heart of one of the most desirable neighbourhoods in New York.

The vacant lot at 74 Grand St is owned by TJD21, in which Gayle Killilea Dunne and John Dunne have “ownership interests” as was recently revealed by Sean Dunne at a meeting of his creditors in Connecticut.