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Broadcom said Stellar's technology required less capacity and memory to deliver video across electronic networks.
They tried to restructure their loans by reinvesting as much as $40 million, said real estate executives who work with Laurence Gluck, Stellar's chief executive.
In the meantime, Stellar's lenders were forced to pay a $6 million tax bill last year when Stellar and its partner could not come up with the money, according to Realpoint, a debt rating agency.
The developers, a partnership of members of the Chetrit Group and Stellar Management, were trying to evoke Columbus Circle with a contrasting name, said Laurence Gluck, Stellar's founder and a co-developer.
There are also mixed reviews of Stellar's proposal, now under review by the city, to demolish the 1,538 townhouses to make way for up to 7,400 new apartments over 20 years.
Kathleen Cudahy, a spokeswoman for Stellar, confirmed Monday that CBRE Realty recently notified Stellar that it planned to sell Stellar's partnership interest, which serves as collateral for the loan, in February.
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They remind me of Katamari Damacy's stellar objects or Super Mario Galaxy's little planetoids.
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