Murray Hill Properties Pressured by Mezzanine Lender

NEW YORK CITY-Sources say that Murray Hill Properties has failed to pay up its loan for 1180 Sixth Ave. located between West 46th and West 47th streets.

By GlobeSt News Hub | January 18, 2011 at 01:01 AM

NEW YORK CITY-Sources say that Murray Hill Properties has failed to pay up its loan for 1180 Sixth Ave. located between West 46th and West 47th streets. The firm has tapped The Carlton Group, a real estate investment bank, to help save its investment.

The mezzanine debt on the 23-story building, which measures 400,000 square feet, is owned by Shorenstein Properties. Sources say that Murray Hill Properties is being pressurized by the mezzanine lender who may foreclose the property. For the full story, go to Crain's New York Business.

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