NEW YORK CITY-A redeveloped office property at 218 W. 18th St. in Chelsea is getting a new owner. A joint venture between GreenOaks Real Estate Partners and Atlas Capital Group has completed the acquisition of the defaulted loan on the 172,000-square-foot office building.
Bank of America Corp. sold the $68-million loan in October 2010 to the Fishman Group for $50 million. Sources said that the joint venture will pay nearly $60 million for the loan. For the full story, go to Crain's New York Business .
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