More than two years out from the costly sinkhole in a section of W. Centre Street, the city plans to dole out roughly $89,000 more in settlements to businesses that were affected.
The first chunk is a $55,119.61 payout for the Insurance Company of Greater New York, which covered damages for a client at 111 W. Centre Street, as required by their contract. The second is a $33,960 settlement for Southern Management Corporation’s Gallery Towers apartment complex, which shares that address.
The sinkhole was caused by a four-foot hole in the top of a 6-foot-wide, century-old sewer line running beneath the road, which then collapsed. The repairs took six months in all and cost the city $4.5 million to repair. They also disrupted foot traffic for the then-new Mount Vernon Marketplace, and temporarily shuttered Trinacria, which took the time to renovate the Mount Vernon location before reopening that summer.
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