NEW YORK CITY-Alexico Group, the developer of Mark Hotel, and a realty fund in New York are seeking Goldman Sachs's help to solve financial problems regarding conversion of the East Side hotel into co-ops.
The group is struggling to pay a $270 million debt to Anglo Irish Bank. As Alexico's plans of converting 42 of the 162 units in the hotel into luxury co-ops failed, it is now seeking finance from Goldman Sachs to buy back its mortgage debt. For the full story, go to Wall Street Journal.
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