NEW YORK CITY-In a foreclosure auction held on Wednesday, CapitalSource Bank purchased a residential building, Hudson Blue, with a bid of $6.8 million. The bank is the mortgage holder of the property and held a lien of $18.9 million on it. The 10-story building is located at 423 West St. and was developed by Horizen Global.
The building was earlier listed in the market for $25 million, but found no takers. Grubb & Ellis has now been roped in by CapitalSource to market the building. For the full story, go to Wall Street Journal.
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