Posted Oct 14, 2012, 12:48 PM
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Join Date: Sep 2012
Posts: 127
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25 Broad, 627 Greenwich both return to lenders
Katherine Clarke
April 18, 2012
http://therealdeal.com/blog/2012/04/...rn-to-lenders/
Quote:
The building at 45 Broad Street, slightly south of 25 Broad, hit the foreclosure auction block in November 2011 with an outstanding lien of $72.5 million in total, The Real Deal previously reported. Lehman took control of that property last month for $76.79 million, according to public records.
“They’re going to bring them to market in a big way,” Lawrence Porter, a managing director of Newmark Knight Frank who attended the auction, speculated.
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I'm not sure if the Lehman Estate is going to build anything though, they may just be prepping the site so it is development ready, and then sell it to a developer so they can pay off their creditors.
Last edited by Barbarossa; Oct 14, 2012 at 1:01 PM.
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