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Old Posted Oct 14, 2012, 12:48 PM
Barbarossa Barbarossa is offline
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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.

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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